Scepticism over tapering pays off for Westpac
Westpac has topped this week's one-month currency forecast rankings with expectations that the US Federal Reserve would not begin tapering its quantitative easing programme in September, weakening the dollar against the euro.
On September 13, the Australian bank forecast EUR/USD would rise from 1.3291 to 1.33 in one month’s time. Five days later, the Fed announced it was not convinced recent US economic data was strong enough to warrant a change of monetary policy, and the pair eventually
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