Forex Blog: Currency Trading News & Analysis.

August 24th 2005

‘RedTower’ deemed most accurate currency forecaster

According to Bloomberg news, RedTower, a small Scottish money manager, was the most accurate currency forecaster last year. In a survey conducted among institutional forex traders, RedTower correctly predicted the Euro would fall to $1.22, while the most other analysts forecasted a prolonged period of appreciation. RedTower claims its prediction was largely based on international disparities in the price of beer, proving that inspiration can come from the most unexpected places. In the same survey, however, RedTower managers forecasted the price of oil would not reach $45 by year-end. So much for clairvoyance… Bloomberg news reports:

It was the first time Redtower topped the ranking for currency forecasts, according to Bloomberg data. Bank of Tokyo Mitsubishi, HBOS Plc and Credit Suisse First Boston came second, third and fourth, respectively.

Read More: Winning Dollar Forecaster Gains Insights Drinking Dutch Beer

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Posted by Adam Kritzer | in Euro, Investing & Trading | No Comments »

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© 2004 - 2018 Forex Blog.org. Currency charts © their sources. While we aim to analyze and try to forceast the forex markets, none of what we publish should be taken as personalized investment advice. Forex exchange rates depend on many factors like monetary policy, currency inflation, and geo-political risks that may not be forseen. Forex trading & investing involves a significant risk of loss.