NAB wins with contrarian dollar view
Weather-related hold-up in dollar rally bags NAB a win
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The National Bank of Australia (NAB) came out on top of last week's three-month currency forecast, after correctly anticipating that severe weather conditions in the US would push back the dollar rally consensus expectations called for.
On January 24, 2014, the bank saw EUR/USD climbing to 1.38 by the end of April, from the 1.37 area the pair hovered around in January. Consensus expectations called for the euro to slide against a strengthening dollar, taking the rate to
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