Dresdner hits top with deadly accuracy
The bank's one-month forecasts submitted on January 4 were particularly accurate. The EUR/USD and GBP/USD forecasts of 1.48 and 1.97, respectively, were almost identical to the February 4 spot rates of 1.4817 and 1.9764.
Michael Klawitter, senior currency strategist at Dresdner in Frankfurt, said the bank's view on cable was a result of what was taking place with EUR/USD.
"As the eurozone is of more relevance to the UK than the US, it makes sense to focus on EUR/GBP, and consequently cable is
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