BNP Paribas on winning streak with bullish euro forecast

Eurodollar October 8

BNP Paribas has topped this week's one-month currency forecast rankings for the fourth time in five weeks, having taken a bullish stance on EUR/JPY and EUR/USD in its August forecasts, based on a recent decline in sovereign risk.

On August 31, with EUR/JPY trading at 98.35, the French bank forecast the euro would rise to 99.54 in a month's time; by October 1, the pair was trading at 100.11, according to data from Thomson Reuters. Strategists at BNP Paribas attribute the euro's surge to the momen