Cable decline pushes FXCM to top spot

On-target cable call gives US-based broker the first place


FXCM topped last week's one-month currency forecast table with an on-target call on the strengthening of the dollar against sterling, and two close calls on the euro and the yen.


The US-based broker forecast cable to decline to 1.53 from 1.55 over the one-month period. FXCM also correctly predicted the euro would rise against the dollar and decline against the yen, with both moves driven by global markets turmoil.

On August 8, EUR/USD was trading around the 1.09 level and

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