Euro caution pays off for TD Securities
TD Securities has topped this week's one-month currency forecast rankings, after predicting the euro's sharp pace of appreciation against the dollar at the start of the year would be unsustainable.
When the bank submitted its one-month forecasts on January 11, EUR/USD was trading at 1.3261, rising subsequently to a high of 1.37 on February 1, according to data from Thomson Reuters. The euro's strength led to cautious rhetoric on the exchange rate from European Central Bank president Mario Draghi
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