Dollar remains supported for now, says ABN Amro
CURRENCY FORECASTS
"Our FX models have been driven by forward interest rate factors in recent months," Norfield said. "These continue to work well. Later this year, we expect that more structural issues may come to dominate FX markets, but, for now, comments on the 'excessive US deficit' continue to bore the market silly."
He added that in particular, the bank thought the market was under-estimating the degree to which the Fed would tighten policy.
Norfield said the dollar was supported by 'homeland flows' in 2005
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