FXCM wins with euro capitulation call

Broker saw extreme moves calming after EUR/USD hit year's low

forecasts

FXCM has topped the one-month currency forecast tables by anticipating the scope of the euro's losses against the dollar and on the crosses, especially against the Japanese yen, which the broker expected to trade at 129.6, against the consensus expectation of 131.02.

On March 11, the euro hit the year's low so far, at 1.0497 against the dollar, only days after the European Central Bank (ECB) started buying bonds as part of the quantitative easing programme it announced in January.

The lows

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