Saxo counts on carry trade reversal
Saxo Bank heads the three-month forecast rankings this week, after anticipating a long-term reversal of the carry trade following Lehman Brothers' collapse.
The three-month forecasts were submitted at the end of September, two weeks after Lehman filed for bankruptcy. John Hardy, head of foreign exchange strategy for Saxo Bank in London, predicted aggressive deleveraging as a consequence of the turmoil.
"The main theme of any forecast at that time was a simple reversal of the carry trade. The
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