Bearish euro view pays off for Wells Fargo

eurusd-nov12

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Wells Fargo has topped this week's 12-month currency forecast rankings after accurately predicting the euro would weaken over the past year but steering clear of the complete collapse of the currency anticipated by some strategists in late 2011.

On November 4, 2011, with EUR/USD trading at 1.3851, Wells Fargo forecast the pair to fall to 1.26 in a year's time. The euro has, as predicted, depreciated significantly during 2012 as the currency navigated

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