Correction forecasting wins out
From said the bank had scaled back its "very bullish" Fed-view to "bullish" in line with the sharp rise in the oil price last autumn. This and a continued widening of the trade deficit made the bank adjust up its EUR/USD forecasts. "However, the rapid move up to near 1.37 appeared overdone to us. Therefore, although we remain fundamental dollar bears, we didn’t just move our EUR/USD forecasts up in line with the slide in the greenback." Instead, Danske kept the three-month EUR/USD target of 1
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