Deutsche Bank in London has won the March Reuters foreign exchange poll by making the most accurate forecasts for one-month dollar rates.
Forecasts made by the bank diverged on average by 0.82 percent from the actual close on March 31, the last trading day of the month.
The bank forecast sterling to end March at $1.85, the euro at $1.25 and the dollar at 105.00 yen, in the survey taken March 1 to 3.
That compared with actual rates of sterling at $1.8454 the euro at $1.2312 and the dollar at 104.28 yen.
ING Belgium in Brussels was runner-up with a 0.87 percent divergence while third place went to Wachovia Corporation in North Carolina, United States who were out by 0.89 percent.
Percentage divergences for the predictions ranged as high as 5.47 percent. The consensus forecast, based on the median, was out by 2.14 percent, lower than the 2.36 percent divergence recorded in the February survey.
Average annualised monthly volatility as calculated by Reuters rose slightly to 11.9 percent in March from 11.5 percent in the previous month.
Nineteen out of 60 forecasters outperformed the consensus prediction in March.
The monthly poll asks analysts and currency strategists for one-, three-, six- and 12-month forecasts for dollar exchange rates against sterling, the euro and yen.
This month's survey is being carried out on April 5-6 and the forecasts will be published on April 7.
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