Analysts were most off-the-market in yen and Australian dollar predictions
Estimates from economists and trading are two different things but the Bloomberg analysed year-end consensus forecasts for the major currencies over the past decade and found that Australian dollar and yen estimates were worst.
"The median year-end forecasts for those currencies against the U.S. dollar missed the mark by an average of at least 12 percent over the past decade, according to data compiled by Bloomberg. The analysts are on course for an 8 percent gap on their Aussie estimates in 2015," the report says.
That's something to keep in mind as the annual flood of 2016 predictions begins.
Another interesting tidbit from the article is that this years range in USD/JPY of 115.86 to 125.86 was the narrowest on record.
