NAB snags top spot with on-target calls
The bank expected a slower rate hike cycle
National Australia Bank (NAB) topped last week's three-month currency forecast table with on-target calls for EUR/JPY and USD/CHF, led by the conviction that the pace of rate normalisation in the US would be slower than markets anticipated and any gains in the dollar would slow in turn.
On July 31, when EUR/JPY was trading at 136 and USD/CHF at 0.96, NAB projected that in three months time the euro would fall against the yen and the dollar would rise against the Swiss franc. The bank only
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