SEB's greenback loyalty pays off
CURRENCY FORECASTS
In January 2005, with EUR/USD at 1.30, SEB's three-month forecast was 1.26, the second most dollar-bullish bank behind Commonwealth Bank of Australia (CBA), which predicted 1.25. In June 2005, with EUR/USD at 1.23, SEB's three-month forecast was 1.20.
"Even now we still prefer a stronger dollar – a EUR/USD rate of 1.16 in three months from now," said Måns Grünberger, senior technical analyst at SEB in Stockholm, against a three-month average of 1.21.
Grünberger said the Swedish bank consistently
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