RBC wins on restrained dollar view
CURRENCY FORECASTS
Others predicted a greater rise in the greenback than actually occurred, while RBC was restrained in its prediction for the dollar's increase.
Adam Cole, senior currency strategist at RBC Capital Markets in London, said the bank made few changes to its short- or medium-term forecasts at the end of June. "In our view, the dollar's gains in June were more a reflection of a flight to liquidity than to quality," Cole told FX Week. "Sharp losses in global equities resulted in heavy liquidation of
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