BMo favours commodities over majors
Range trading in the majors helped Bank of Montreal (BMo) surge nine places to take victory in FX Week 's three-month forecast rankings.
Jeff Cooper, director of foreign exchange options at BMo in Toronto, told FX Week that, with the major economies all equally weak, no currency was able to make headway against a rival. "For example, there are arguments to be made on both sides about the weakness of the US dollar and euro, and they have cancelled themselves out. Over the past three months, EUR
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