Forex forwards bounce back as year ends

- By FX Markets Staff
- @FXMarkets_
- 15 Dec 2008

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Three-month EUR/USD FX basis fell to around 25 basis last week from five times the level a week before on December 5, when it traded at 120 basis, according to data from JP Morgan.

"This is a very significant normalisation in the basis, as about 20 basis is as close to normal as one could reasonably expect," said a London-based forex strategist at a global investment bank. "There now seems to be a lot more confidence that, with the year-end passage, there is not going to be a repeat of what we

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