CBA on top as eurozone attempts to resolve debt crisis
CBA predicted eurodollar would reach 1.30 by early August from 1.28 at the time of forecasting on May 7. The prediction came two days before the International Monetary Fund and the European Central Bank (ECB) announced a €750 billion stabilisation package for struggling European member states. The ensuing improved sentiment drove up the value of the currency to 1.33 by August 9.
Richard Grace, chief currency strategist at CBA in Sydney, added that the movement of the eurozone-US two-year bond
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