Monday, June 22, 2009

BBH: yen may gain from the reduction of commodity currencies

According to analysts Brown Brothers Harriman, the magnitude of reduction in freight rates, which also provide high yield currencies and is a favorite of Japanese private and institutional investors can now support the yen against the backdrop of cover positions. The key support in the pair AUD / USD is 0.7830/50 area in: Sure, if a breakthrough in those levels may further decline to 0.7500. A pair of U.S. / Canada has already Breaks 1.1500 resistance - at the close above this level in BBH consider possible further increase in couples, at least to the level of 1.1650. The pair dollar / Canada is now trading at 1.1530, pair AUD / USD is at around 0.7930.

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