Credit Agricole wins with call on reserve diversification
The bank sees support for EUR, regardless of eurozone's fundamentals
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Credit Agricole topped last week's 12-month currency forecasts with a focus on the FX reserve allocations of central banks, which turned out to be supportive of the euro's exchange rate against the dollar.
By November 15, 2013, the disinflation trend in the eurozone was becoming entrenched, with EUR/USD trading around the 1.34 mark. At the time, the market was anticipating a dollar recovery as participants prepared for the US Federal Reserve to begin winding down its
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