4Cast savvy over sliding oil prices

- Gail Mwamba
- 04 Aug 2008

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Chris Furness, head of currency strategy at 4Cast in London, said the company had forecast EUR/USD at $157.50 on the basis that the dollar was unlikely to stay as low as the market thought. "We were looking at the price of oil to come off the top at the time - which it has - and this links in with the dollar improving."

Oil hit a record high of $147.27 a barrel on July 11, amid concerns over Iranian missile tests. But by August 1 it had dropped 15% to $124.27 a barrel. "The dollar was trading

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