BNP Paribas has doubt about the future of the euro, Westpac believes in the restoration of the exchange rate yen

BNP Paribas and Westpac believe in the restoration of the yen

In brief: BNP Paribas and Westpac decided to believe in the exchange rate of the yen. Exchange rate euro continues to fall.

BNP Paribas and Westpac preference for yen. Given that the upward movement of the euro / yen is likely to be limited, as well as to reduce the risks in the pair dollar / yen, currency analyst at BNP Paribas believes that the risks for the euro / yen, more intensified. Break below 111.80 support level indicates a further reduction in the mark of 110.00.

Stops in 111.50 absorbed. Further, as reported dealers, feet are on a break below 111.25. Current euro / yen 111.51. The yen rose after a 2-day weakening against the dollar and euro, as concerns about the pace of recovery of the U.S. economy and the welfare of European banks have increased the demand for yen as a currency of refuge. The Japanese currency strengthened against all 16 major currencies except the Canadian dollar, South African rand and the Norwegian crown. As noted currency analysts Westpac, the growth of the yen to a greater extent the result of the weakening in the U.S., lowering economic growth projections. The mood in the United States acquired bearish character.

Ukrainian Globalist
2010-07-21 18:02, Currency news.

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