Calyon dominates one-month charts
Calyon has held onto the top slot of the one-month historical index rankings since October last year, with an expectation that improved sentiment towards UK economic fundamentals would eventually lift the UK unit.
Daragh Maher, currency strategist at Calyon in London, said that, at the time of forecasting, the bank felt the sterling was oversold. "Economic fundamentals in the UK were not as bad as people were making out – so principally it was an issue of valuation," he said.
Sterling lost 20%
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