Saxo stays low on the euro

john-hardy-saxo-2010

 

Saxo Bank topped this week's one-month currency forecast rankings with a bullish outlook for the US dollar.

John Hardy, consulting foreign exchange strategist at the Danish bank said that, by December, the market had begun unwinding a significant portion of the policy tightening from most of the central banks.

"Since little tightening was expected from the Fed to begin with, this saw interest rate spreads at the front end of the curve compressing in favour of the dollar. We expect the dollar

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