Crédit Agricole wins with eurodollar view
On January 28, the French bank predicted EUR/USD would remain at 1.36 in a month's time, while USD/JPY would be at 83, EUR/JPY would be 112 and GBP/USD would rise from 1.59 to 1.61. All forecasts proved to be close to the spot rates on February 28.
An uncertain start to the year set the tone for the bank's forecasts in late January, according to Mitul Kotecha, head of global foreign exchange research at Crédit Agricole in Hong Kong. The bank expected the dollar to remain weak before rebounding
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