RBC on top with August stagnation forecast

Eurodollar September 3 2012

Royal Bank of Canada (RBC) Capital Markets has topped this week’s one-month currency forecast rankings with an accurate view that a catalyst allowing European stress factors to play out would fail to appear in August.

On July 27, when the euro was trading at 1.23 against the dollar, RBC correctly predicted it would rise to 1.25 in one month’s time. The bank was also spot-on in predicting the yen's stagnation against the dollar at 78, and the euro's climb against the Japanese currency from 95.84

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