LTRO-based euro forecast pays off for Wells Fargo
Wells Fargo has topped this week's one-month currency forecast rankings with an accurate prediction of the short-term consequences of the second longer-term refinancing operation (LTRO) carried out by the European Central Bank (ECB) at the end of February.
On February 10, with EUR/USD trading at 1.3246, strategists at the bank accurately forecast the pair to dip moderately to 1.32 as the net consequence of the ECB's scheduled operation.
"The key development driving the euro was the aggressive
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