Wells Fargo hits the spot with rates-based prediction

Vassili Serebriakov at Wells Fargo

Wells Fargo has topped this week's three-month currency forecast rankings after accurately predicting how the divergence of expectations on policy decisions between the Federal Reserve and the European Central Bank (ECB) would drive the major currency pairs.

On April 8, strategists at the US bank forecast EUR/USD to decrease from 1.44 to 1.40 in three months' time, which proved close to the mark as eurodollar spot hit 1.426 on July 10.

"Markets were increasingly looking for monetary policy

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