BarCap strengthened by weak USD
"We anticipated a USD decline in the fourth quarter," Adarsh Sinha, BarCap's London-based forex strategist, told FX Week. "We also believed the currency's decline would be more broad-based than in the first half of 2007, when USD depreciated against the euro, but gained against the yen."
The bank's expectation of USD weakness was supported by its belief that the US economy was facing the most downside risks relative to expectations. "The US housing market crisis had created domestic financial
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