Calyon tops charts with supple view
Daragh Maher, currency strategist at Calyon in London, said the bank has benefited from a more flexible view on the drivers of currencies over the past 12 months. "We have been willing to accept that the factors that drive a currency evolve and that has put us in good stead," said Maher.
For example, a year ago the French bank focused on interest rate differentials as key drivers of currency markets. However, in the past four months emphasis has shifted to risk aversion, with the dollar and yen
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