Cable view pushes City Index to the top
Overall dollar bullishness pays off against the pound
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City Index has topped last week’s three-month currency forecasts with an on-target cable view, backed by the conviction that declining oil prices would propel the greenback higher against the pound.
On November 21, 2014, the firm forecast GBP/USD to fall to 1.53 from 1.57, citing an overall bullish dollar view in light of consistent declines in the price of oil and a more negative view on sterling in the wake of unexpectedly low inflation figures in the UK, says Ashraf
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