BBVA wins with upbeat view on US economy
The bank forecasts a first Fed hike by mid-2015
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Banco Bilbao Vizcaya Argentaria (BBVA) topped last week's one-month currency forecast rankings by adopting a bullish dollar view on the back of the US showing a solid economic recovery.
Peter Frank, global head of G-10 and Asian FX strategy at BBVA, says the dollar's rise is mainly due to the sharply contrasting fortunes of most developed countries such as the eurozone and the US economy, where the central bank has cautiously started to tighten monetary conditions
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