BNP Paribas expects for the exchange rate euro depreciation next week

The exchange rate euro will go down, BNP Paribas

In brief: BNP Paribas assures investors that the euro exchange rate will be unstable against the background of growing problems in the euro area.

The exchange rate euro will not stand against the new tests are confident BNP Paribas analysts. Euro / yen can not stay in the range of 110.00/113.30, despite the threat reduction, which is based on the willingness of Fed Chairman Ben Bernanke to further weaken the monetary policy when the need arises, note currency analysts BNP Paribas.

Nevertheless, the bank expected to reduce the cross to the bottom of this range, as markets focused on the negative consequences of the results of stress tests for the euro while the yen to causes as a result of continuing decline in yields on short-term U.S. government bonds. At the moment the euro / yen is trading at around 112.75. Foreign currency analyst at BNP Paribas offers a breakthrough pair below 110.00 and re-testing a minimum 7 July 109.32.

Igor Tringlers
2010-07-25 11:20, Economics.

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