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SEB top five in global FX forecasting, Bloomberg says

More than 50 banks globally were rated by Bloomberg to “identify the most accurate foreign-exchange forecasters” based on forecasts for the past six quarters and the annual forecast starting on 30 September 2010. The rankings are determined by the average margin of error (AME) over the seven rating periods.

This year’s rankings were the first time the Swedish krona and Norwegian krone vs dollar pairs were introduced, along with comparison of the US dollar to Australian, Canadian and New Zealand currencies, bringing the total number of currency pairs included in the comparison to 13.

SEB was rated number five for overall currency forecasters (all 13 currency pairs) and also top five for euro against the Norwegian krone and euro against the Swedish krona. The bank has previously been consistently top-ranked in UK pounds, US dollars and Swiss franc.

Carl Hammer, head of research team, says the Bloomberg ranking, awarded by industry experts, combined with client recognition in the Prospera rankings shows SEB is not just a niche player in the foreign exchange arena.

“We are among the top 20 banks globally in terms of turnover, but we are sometimes seen as a niche player with core strength in Scandies (Scandinavian currencies),” Hammer says.

“The really pleasing thing about this ranking is that it shows we are ahead of the other Scandinavian banks and that we compete with the much bigger London-based banks across these 13 currency pairs, and not just the Scandies.”