HSBC backs sterling and euro recovery
HSBC triumphed in this week's one-month forecast rankings by predicting the euro and sterling would strengthen as risk appetite returned to the market on the back of improving US data.
Paul Mackel, senior currency strategist at HSBC in London, said that, over the month, data releases from the US indicated the contraction in the US economy was slowing. At the start of July, at the time of making the winning forecast, the US released June's purchasing managers index (PMI), which had risen for the
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