Wells Fargo boosted by US recovery
Wells Fargo has topped the three-month year-to-date index this week with a consistent dollar-bullish approach. Nick Bennenbroek, head of currency strategy at Wells Fargo in New York, attributed the bank’s forecast to economic factors and market positions.
“The US economy has turned up more quickly than the other major regions, with a significant swing in the inventory cycle,” said Bennenbroek. “In the fourth quarter 2009, US GDP grew at 1.4% quarter-on-quarter compared with 0.9% for Japan and
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