EUR/USD correction puts BNP on top
Ian Stannard, senior currency strategist at BNP Paribas in London, said that during the fourth quarter of 2007, the bank had anticipated EUR/USD would maintain its up-trend into the year-end, before the correction set in.
"Broad-based USD weakness allowed EUR/USD to peak just shy of 1.50 in late November," said Stannard. This occurred as signs showed the US economy was slowing more rapidly than many in the market had assumed. "USD weakness has also been emphasised against the yen over recent
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