UniCredit wins with long-term view
UniCredit has topped this week’s 12-month currency forecast rankings as it correctly predicted that safe-haven currencies would weaken at the start of 2014, due to diminished tail risks associated with the eurozone and rising US yields in the wake of the Federal Reserve’s tapering.
On January 25, 2013, the bank forecast EUR/USD, USD/JPY and USD/CHF to trade at 1.36, 93 and 0.94. The pairs moved from 1.34 to 1.37, 90.95 to 102.23 and 0.92 to 0.89 in the past 12 months. Vasileios Gkionakis, global
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