Pick-up in volatility takes SEB to top

The Swedish bank sees EUR/USD trading at 1.08 by June



SEB topped last week's 12-month forecasts by taking the view that currency movements would widen as a consequence of the major central banks' diverging policies.

Interest rates close to zero in developed economies led to a low volatility environment for most of 2014, but with the US Federal Reserve tapering its stimulus programme, – a process it finished in October – volatility began to pick up, says Carl Hammer, chief currency strategist at SEB.

"Volatility has been

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