FX Strategists Hit Back Against Forecasting Charges

RESEARCH AND COMMENTARY

Foreign exchange strategists last week hit back at comments from Federal Reserve chairman Alan Greenspan, who recently said that FX forecasting is the least accurate in economics.

In his testimony to the Senate Banking Committee last month, Greenspan said, "There may be more forecasting of exchange rates, with less success, than almost any other economic variable."

However, David Bloom, currency strategist at HSBC in London, found that while FX forecasts on the dollar deviate by around 10 per

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