Saxo wins forecast with contrarian EUR/USD call

The bank sees USD rally resuming after hawkish FOMC meeting




Saxo Bank topped last week's three-month currency forecast tables by maintaining the dollar would continue to outperform G-10 currencies on the back of widening policy divergence between the major central banks.

On August 1, EUR/USD was trading at 1.34 and the widespread consensus was predicting a minor slide to 1.33. In contrast, Saxo forecast the pair to fall to 1.30 three weeks ahead of the central bankers' meeting at Jackson Hole, where it emerged the European

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