CIBC bets on gradual upward curve for US dollar
Canadian Imperial Bank of Commerce (CIBC) has topped this week's three-month currency forecast rankings with an accurate view that the US dollar would not appreciate in the short term, which resulted in close-to-the-mark forecasts on the four dollar-denominated pairs.
On May 25, with GBP/USD trading at 1.5664, the Canadian bank forecast the pair would strengthen slightly to 1.57 within three months, accurately reflecting the spot rate on August 20, according to data from Thomson Reuters. The
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