RBS storms ahead as Fed treads lightly
Royal Bank of Scotland has topped FX Week’s one-month currency forecast index this week by retaining a bearish view of the US dollar and anticipating a dovish Fed outlook.
The bank correctly predicted the November 23 EUR/USD and EUR/JPY spot rates of 1.5 and 133.5, respectively. Alan Ruskin, global head of foreign exchange strategy at RBS in New York, said the bank anticipated a reduction of position taking in the run-up to Thanksgiving, before the resumption of seasonal US dollar weakness in
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