BNP Paribas does not believe in the bright future of euro and yen

BNP Paribas gives a forecast for the euro and the yen

In brief: Exchange rate euro will fall. BNP Paribas said that the yen and the euro will cease to grow in relation to other currencies.

According to currency analysts said BNP Paribas, the euro / yen is unlikely to be able to continue its recovery from the 8-year low 107.30, which established the couple on Tuesday, amid disappointing June PMI data in China.

The bank believes that is likely to increase the rollback will not work and the negative dynamics of resumes, which resulted in the pair to fall below key mark of 107.00. Current euro / yen 108.50. The slowdown in the U.S. and China have a negative impact on the euro, because Europe needs strong exports to offset the deflationary effects, whether due to the consolidation of the budget.

Ukrainian Globalist
2010-07-01 16:26, Currency news.

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