BNP Paribas ends year on USD high
"The massive increase in asset market volatility that was taking place 12 months ago was a very negative factor for leveraged positions," said Ian Stannard, BNP Paribas's senior foreign exchange strategist in London. "We had an aggressive forecast for dollar strength, both against the euro and sterling. The volatility has continued to pick up throughout the year, which has seen positions unwinding and repatriation of flows back into the US."
The greenback started the year at $1.4704 on January 1
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