Saxo wins with long-term dollar forecast

Danish bank moves to top with close call on dollar strength



Saxo Bank topped last week's 12-month currency forecasts by correctly anticipating that the dollar would make gains against sterling in the long run. 

Twelve months ago, when cable was trading at 1.71, the Danish bank anticipated a sharp decline in the pound, which dropped to as low as 1.46 just after the UK general election, only to climb back in recent months. Eventually, the pair closed last week at 1.56, near the bank's target of 1.58.

Sterling to underperform


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