Forecasting the future path of currencies is notoriously a mug’s game. Even the great Warren Buffett noted in last year’s annual letter to shareholders that “the cemetery for seers has a huge section set aside for macro forecasters”.

The Sage of Omaha went some way to proving his own adage correct this year, sustaining losses on the $20bn or so Berkshire Hathaway, his investment company, bet on a falling dollar. But Mr Buffett is probably not alone in wishing his predictions could be prematurely buried this year.