Weaker euro gives RBS a clear win

Scot bank anticipates euro drop due to ECB QE

forecasts

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RBS won this week's 12-month forecast by correctly predicting a sharp decline in the euro against both the dollar and the yen, as a result of the expansionary monetary policy adopted by the European Central Bank (ECB).

On July 4, 2014, the Scottish bank forecast EUR/USD to decline from the 1.36 level to 1.27 in a year's time. On July 3 this year, the pair traded at 1.11, pushed down by concerns over the ongoing debt crisis in Greece and the quantitative easing (QE)

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