4Cast buoyed by trade sentiment
CURRENCY FORECASTS
Chris Furness, head of currency strategy at 4Cast in London, said the company has been consistent in looking for a softer US dollar against most of the majors. "It was good to see cable catching up with our expectations for $2 per pound," he said.
But perhaps it was the company's faith in the longevity of the carry trade that carried the day, keeping yen stable near 120 in the context of still-bearish USD sentiment. "This, in turn, helped to drive GBP/JPY and EUR/JPY strength," added Furness.
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