Tempered euro bet lands CIBC on top
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Canadian Imperial Bank of Commerce (CIBC) has topped this week’s one-month currency forecast rankings after accurately predicting a halt to the euro’s strength and further weakness for sterling in the short term.
On January 18, with EUR/USD trading at 1.34, CIBC took the view that, while the euro might strengthen further in the immediate future, it would fall back to 1.33 in a month’s time. As expected, the euro hit a high of 1.37 against the dollar on February 1
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