CMC Markets triumphs by backing the greenback

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CMC Markets has topped this week's three-month currency forecast rankings after taking a view that US economic growth would improve against a backdrop of weakness in Europe and Japan.

On February 22, when EUR/USD was trading at 1.318, CMC forecast the euro would drop to 1.28 against the dollar in three months' time. Its forecast proved correct – the pair was trading at 1.2874 on May 20.

"Growth in the eurozone continued to deteriorate, and until the European Union gets to grips with the problems

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