Brazil's Economic Research team, working together with the London team, remained in pole position in Bloomberg's ranking for LATAM currency projections in the first quarter of 2018.

MUFG came first in the overall ranking, Chilean and Colombian Peso, and fourth in Mexican Peso.

Derek Halpenny, MUFG's European Head of Global Markets Research, commented:

"I'm delighted to see that for the second consecutive quarter MUFG FX Research came first in the results for LATAM FX currency forecasts. This was very much a team effort and a great result ranking first out of 19 banks. We pride ourselves on our accuracy so it's very pleasing to be recognised for this"

Carlos Pedroso, Senior Economist at MUFG Brasil, commented:

"This clearly demonstrates the strong teamwork between the UK and Brazil and we plan to continue strengthening the partnership with our colleagues in London."

The same results show MUFG FX Research came second amongst 29 banks in the Asian regional ranking. There are 11 currencies covered incorporating forecasts from Hong Kong and Singapore. MUFG was first in Taiwan Dollar and South Korean Won, third in Japanese Yen, fourth in Singapore Dollar and fifth in Thai Bhat.

The Japanese Yen forecast is included in the G10 ranking and forecasts from Global Market Research in Tokyo ranked third out of 73 banks. Also in G10 rankings MUFG was fourth out of 70 banks in the British pound / U.S. dollar forecasts, highlighting our consistent positive view of the impact of Brexit on the pound.

Forecasters are ranked by error margin, timing and direction precision. The best institutions were identified by the average of individual results in all six analysed currency and in all quarters.