CMC's aggressive strategy pays off
CURRENCY FORECASTS
Ashraf Laidi, chief FX analyst at CMC in New York, said while other analysts were assuming December would be another bad month for the dollar, he expected losses would be stemmed.
"We were quite aggressive in our belief that the dollar would start falling after its peak in mid-October. But we were not ready to jump on the bandwagon and say it would continue to decline towards the end of December," explained Laidi.
The bulk of dollar declines, he said, were already priced-in by that point. These
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