BMo benefits from dollar strength
CURRENCY FORECASTS
Jeff Cooper, vice-president, FX at Bank of Montreal (BMo) in Toronto, said the greenback did extremely well despite the overhang of the current account deficit, and a deteriorating outlook for the US budget balance.
"We forecasted that this positive momentum would continue into year-end, and thus had a slightly US dollar bullish forecast for the short term, but we question the sustainability of the greenback rally," he told FX Week.
Cooper said some of the dollar's buoyancy was due to provisions
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