Weaker dollar buoys CBA to the top
Australian bank wins this week
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The Commonwealth Bank of Australia (CBA) won last week's three-month currency forecast by correctly predicting a slide in the value of the dollar against the pound and the euro.
On March 20, the Australian bank forecast cable to rise to 1.54 from the then prevailing 1.48 rate in three months' time. The call proved correct as the pair rose steadily for two months in a row to hit a high of 1.57, before giving up some gains to stabilise at the predicted level.
Richard
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