ABN, Deutsche top forecast rankings

On average, Deutsche was accurate to within 2.4 big figures on its three-month forecasts for euro/dollar, dollar/yen, euro/yen, cable and dollar/Swiss.

The three-month period in question has been one of the more problematic times for currency forecasters in recent years. Throughout January and February, market focus was firmly fixed on geopolitical events in the build-up to war in Iraq. March, meanwhile, saw the beginning of the conflict and another set of uncertainties brought into play.