Forecasting tricky as markets churn
The 44 contributors had an average percentage divergence of 16.9% from spot rates on October 27. This was more than four times the average of 3.4% made a month earlier, on September 29.
"Forex vols have shot up so high," said Daragh Maher, currency strategist at Calyon in London, which topped the one-month historical index this week. "When you are making short-term forecasts in these types of spot moves, you need to have a higher degree of flexibility even though you maintain your core view and
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