Westpac stays euro-bearish, dollar-bullish
Lauren Rosborough, senior currency strategist at Westpac in London, said that while the bank did expect a rally in eurodollar in the near term, it had maintained its view that the currency pair would remain broadly flat in the medium term. On May 14, Westpac predicted eurodollar to reach 1.27 from 1.25 in three months' time, close to the actual spot rate of 1.28 on August 16.
The bank also benefited from its positive Swiss franc forecast versus the US dollar, which took a lead from euro/Swiss
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