Greenback sell-off fails to materialise
CURRENCY FORECASTS
"I think it is surprising the US dollar did not weaken more, and our forecasts do call for this to happen as we hit 2007," Cooper told FX Week. Cooper said BMo's expectations were that corporations would increasingly move their financial reserves out of US dollars and into euros, but that with the current strength and upward trends in the US bond market it is not happening as quickly anticipated. "But we'll be looking for it to start changing over the next six months, with Chinese companies
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