Stronger dollar leaves Westpac victorious

Australian bank expects Federal Reserve to deliver another hike by June

US Fed
Expected move: the Fed hiked its key rate for the first time in nearly a decade in December


The anticipation of a rate hike by the US Federal Reserve and further divergence among major central banks led Westpac to top last week's three-month currency forecast table with two spot-on calls and two close ones out of five G10 pairs.

When EUR/USD was trading at 1.10 on October 30, the Australian bank accurately projected it would decline to 1.09 in three months' time because of extreme positioning and as expectations of the Fed tightening boosted the dollar. The

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