Currency exchange rates today: dollar may start collapsing, euro will stabilize, yen climbs higher

Currency exchange rates today - euro is going up, dollar is falling

In brief: Currency exchange rates today: yen continues to rise, dollar is weak, euro is stable.

Dollar is not so stable, as it was the day before. Standard Chartered Plc has lowered the forecast on the U.S. dollar relative to the yen and Swiss franc, as the reason for designating the decline in yield bonds. Currency exchange rates are not stable today. According to the expectations of the bank, the dollar / yen at 3 quarter to an average of 93.5. The previous forecast implied rate at 98 yen per dollar. The new forecast for the dollar / franc mean value of 1.19 instead of 1.25 in the previous forecast.

There is a real risk that the Bank of Japan will intervene in the currency market and will sell the yen, mark in his comments, experts Morgan Stanley. “The possibility of intervention by the Central Bank of Japan on behalf of the Ministry of Finance has increased to 47%, which is the highest value since November 2004″, – said Sophia Drosos, deputy head of foreign exchange of U.S. investment bank. In May, the figure was at 40%. Morgan Stanley predicts the depreciation of the yen against the dollar at the end of the year to 98.00. Today’s Asian trading session on the exchange rates had a narrow range. Probably the same way would be to develop trading in Europe, as a key event of the day falls on early stage of the American session. Foreign exchange market participants await the publication of a report on the labor market in the U.S. for June. According to the median estimate of economists surveyed by Bloomberg, it is expected that the U.S. economy in the first month of summer will lose 130,000 jobs and the unemployment rate will rise to 9.8%, ie 0.1% higher than in the previous month.

Ukrainian Globalist
2010-07-02 07:57, Currency news.

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