Rabobank triumphs with expectations of USD weakness
"We perceived that, going into 2011, we would have some reasonably broad-based dollar weakness – the dollar was performing poorly against the majority of major currencies out there," said Jane Foley, senior currency strategist at Rabobank International in London.
On January 7, the Dutch bank accurately predicted EUR/USD would rise from 1.30 to 1.35 in a month's time, close to the opening spot rate of 1.36 on February 7.
Rabobank expected EUR/USD would strengthen this year but this was due to
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