Monday, September 21, 2009

Goldman Sachs expects growth in the dollar / yen

Dollar / yen continued to experience a good interest in buying, and is currently re-testing Ofer around Y92.20, break above which the bulls will continue to move to Y92.40/50, and then to a larger sell order in the Y92 .80. Dealers noted that the reason for the upward movement was the general rehabilitation of the American currency against the backdrop of profit-taking after recent falls, while among the market participants were again heard speculation about the possibility of signals about the prospects of downsizing the stimulus package Fed. Such talk had some support for the dollar / yen, however, currency strategist at Goldman Sachs recommended to pay attention to the fact that a positive factor for the bulls here are largely unfavorable to the Japanese currency by fundamental factors. The bank preferred to consider a period of increasing customer yen as an opportunity for its sales and predict a rise in the dollar / yen to Y98 by the end of the year, while the euro / yen rises to Y142.

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