Contrarian view boosts RBC to top of the 12 month rankings

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RBC Capital Markets (RBC) topped the 12-month currency forecast rankings by maintaining its contrarian view on yen and Swiss franc strength.

“The key motivation for this view was a failure to identify sources of yen selling that would drive the currency down in the way the majority of analysts expected,” said Adam Cole, global head of foreign exchange strategy at RBC in London.

Analysts expected yen selling from sources such as leveraged carry traders shorting the yen to buy higher yielding

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