Range-bound prediction pays off for BMo
"Most of the currencies are going to continue to trade in a range. The market thinks we are over the bad news we went through from August 2007 to February this year, but I think people are becoming too bullish in their expectations of rate increases and that the majority of banks are out of trouble," said Jeff Cooper, vice-president, FX, at Bank of Montreal (BMo) in Toronto. "We expect the euro to continue to trade between 1.55 and 1.60 for the short term, we see no reason for it to break out on
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