Nomura's moderate take on euro fall proves accurate
Nomura has topped this week's three-month currency forecast rankings with a close-to-the-mark view in mid-November that the euro's depreciation against the dollar would only be moderate.
On November 18, 2011, with EUR/ USD trading at 1.35, the Japanese bank predicted that the euro would fall to 1.30 against the dollar in three months' time – close to the February 20 spot rate of 1.32.
"The main starting point is that we were fairly dollar-positive. Looking back towards the end of last year, we
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