Saxo Bank's reality check pays off
John Hardy, consulting foreign exchange strategist at Saxo Bank, said the bank evaluates all the usual factors, such as central bank rhetoric and relative monetary policy expectations, trajectory of economic data and risk measures. "But the most important factor - and what makes for a relatively successful prognosis or not - is to identify the overriding macro themes driving the markets and whether the reality measures up to the theme. Opportunity lies in understanding when the market theme
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