Bearish medium-term euro view wins for Saxo

eurodollar December 5

Saxo Bank has topped this week's three-month currency forecast rankings after accurately predicting in late August that the euro would fall against the dollar.

On August 26, with EUR/USD trading at 1.44, the Danish bank predicted the pair would fall to 1.34 in three months' time, while the consensus of contributors expected a more modest fall to 1.41. Saxo's forecast proved to be entirely accurate.

"The immediate factor weighing on the euro was that risk appetite took a massive hit in early

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