Tuesday, March 16, 2010

BNP Paribas prefers to buy the dollar against the yen

The accompanying FOMC Fed's comments to be published today (21:15 IST), together with the decision on rates is likely to contain more detailed information on measures for the removal of liquidity, which, according to currency analysts BNP Paribas, will support the American currency. As noted in the bank, a couple of dollar / yen, perhaps, demonstrates the greatest sensitivity to such events. The bank also reminded of the probability of further easing of policy, the Bank of Japan. Given these factors, the bank still prefer to buy the dollar / yen to 91.30 level, where the trend line, and further to 93.75. Pair dollar / yen at the moment is on the mark of 90.65.

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