Barclays wins with spot-on QE call

UK bank sees the Fed hiking rates in June



Barclays topped last week's three-month forecasts after correctly anticipating the European Central Bank (ECB) would announce a sovereign quantitative easing (QE) programme by January 2015.

On December 12, 2014, the bank forecast EUR/USD, then trading at 1.25, would fall to 1.17 in three months' time – a much steeper drop than the consensus expectation of 1.22.

The ECB's last policy meeting of 2014 passed without an announcement, although expectations of an imminent QE

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