Argentex LLP (‘Argentex’), a leading FCA regulated provider of foreign exchange services to corporate and private clients across EMEA, has been ranked the world’s most accurate forecaster of GBP/USD and EUR/USD currency pairs by Bloomberg.
The rankings have placed Argentex as the most accurate forecaster of EUR/USD – the world’s most traded market – for three consecutive quarters, underpinning the exceptional level of accuracy and speed of execution and expertise of its specialist team.
Argentex transacted more than $10 billion of currency in 2017 for corporate and private clients globally.
Bloomberg’s rigorous methodology ranks FX forecasters based on three criteria: margin of error, timing (for identical forecasts, earlier ones received more credit) and directional accuracy (movements with the currency’s overall direction).
Harry Adams, MD at Argentex commented: “Consistently placing so highly in these rankings is testament to both the hard work and experience of Argentex’s FX specialists. We will continue to uphold the accuracy of our forecasts and remain committed to delivering tighter pricing, increased transactional efficiency and deep market knowledge in order to deliver the best service for our customers.”
John Goldie, FX Dealer at Argentex added: “It’s great to see our accuracy recognised with Argentex placing at the top of the Bloomberg rankings once again. We have long observed GBP forecasts from some mainstream institutions and commentators to be overly-pessimistic. With Brexit uncertainty adding increased complexity and difficulty in forecasting GBP, we have remained bullish on GBP/USD for more than a year now and even with such a consistent trend higher in the last 12 months, the pound remains historically cheap by nearly any measure.”