Barclays Capital: exchange rate of dollar / yen falls

Barclays Capital predicts a decline in the dollar / yen

In brief: Analysts and foreign exchange experts Barclays Capital have expressed confidence in the strengthening yen against the weakening dollar.

Dollar exchange rate is stabilized, but the yen continued to put pressure on the greenback. The weakening stock market, coupled with the positive trends in the bond market appears a negative factor for the pair dollar / yen, that according to currency analysts, Barclays Capital, will continue to stay in a downtrend.

As noted in the bank until the pair can hold above support the Fibonacci series, which runs at 87.00. However, in the absence of recovery in the region above 89.00 downtrend will remain in force, thus, believe in the bank, break below 86.95 will be the basis for the further reduction of the dollar / yen this month to a minimum 84.75. Currently pair dollar / yen is at around 87.75.

Anrey Torbinski
2010-07-05 16:56, Currency news.

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