BNP Paribas on winning streak with bullish euro forecast
BNP Paribas has topped this week's one-month currency forecast rankings for the fourth time in five weeks, having taken a bullish stance on EUR/JPY and EUR/USD in its August forecasts, based on a recent decline in sovereign risk.
On August 31, with EUR/JPY trading at 98.35, the French bank forecast the euro would rise to 99.54 in a month's time; by October 1, the pair was trading at 100.11, according to data from Thomson Reuters. Strategists at BNP Paribas attribute the euro's surge to the
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