HSBC cautiously optimistic on euro recovery
HSBC has topped this week’s one-month currency forecast rankings after accurately predicting at the start of the year that the bearish sentiment on the euro was not fully supported by economic and political indicators.
On January 6, with EUR/USD trading at 1.28, strategists at HSBC forecast the euro to appreciate to 1.31 against the dollar in a month’s time, accurately reflecting the spot rate on February 6.
“At the beginning of the year, the pattern on the euro seemed particularly pronounced
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