StanChart’s bearish call on majors wins out
Standard Chartered has topped this week's three-month currency forecast rankings – having been ranked in the top three for the previous two weeks – after its bearish forecasts on the euro, the Swiss franc and sterling in mid-March proved accurate.
On March 16, with EUR/JPY trading at 109.70 and EUR/USD at 1.31, the bank forecast the two pairs would slump to 99.06 and 1.27 respectively, based on a belief that the eurozone troubles were far from over, despite the wave of intervention from the
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