TD proves the power of negative thinking
Retaining a firmly negative view on the dollar because of poor US fundamentals has lifted TD Securities to the summit of this week's three-month currency forecast rankings.
"We thought the fiscal situation in the US was likely to remain weak and we expected that to be a drain on the dollar throughout this year and into 2010," said Shaun Osborne, chief currency strategist at TD Securities in Toronto.
A report last month from the Congressional Budget Office (CBO) predicted the US budget deficit
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