Top Currency Forecaster's Doubts on Fed Shape Outlook for 2016
- Bayerische Landesbank sees U.S. raising rates once in 2016
- German lender led Bloomberg's 4th-quarter currency rankings
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The world’s top currency forecaster is pinning its outlook for 2016 on just one interest-rate increase from the Federal Reserve.
After leading Bloomberg’s foreign-exchange rankings in a year when the U.S. central bank raised borrowing costs for the first time in almost a decade, Bayerische Landesbank now sees limited appreciation for the greenback. To economist Manuel Andersch, that means no advance beyond parity with the euro and support for the currencies of commodity-producing nations, which were among the biggest losers in the past 12 months.