TD Securities: Euro will benefit most from QE
The bank had forecast the euro to trade at 1.10 versus the greenback at September-end, reflecting its long-term negative outlook for the single currency. The view was based on the fact renewed Fed quantitative easing (QE) would be unlikely during the period, said Shaun Osborne, chief currency strategist at TD Securities in Toronto.
By September 21 that all changed, and a statement issued by the US Federal Open Market Committee outlined monetary stimulus would be resumed if economically required
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