Calyon points to cyclical factors
CURRENCY FORECASTS
Mitul Kotecha, global head of foreign exchange research at Calyon in London, said the bank's view on relative growth and interest rate differentials was the catalyst for its forecasting.
"This is supported by our short-term FX valuation models such as the Calyon Currency Signal Generator," Kotecha told FX Week. "Correlations between interest rate spreads and FX markets were particularly strong over 2005.
Already this year, there is evidence that these correlations are breaking down, paving the
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