Bank of New York Mellon: the yen will weaken

Subject revive the global economy continues to create a favorable background in the financial markets, however, while the incoming data signal that growth in economic activity in Japan remains stable, Managing Director Bank of New York Mellon Michael Woolfolk said that they also show to maintain sustained deflationary pressures, supporting the growth of negative sentiment on the yen. The latter, meanwhile, has another major reason for weakening: Woolfolk drew attention to the fact that the dynamics of the yen and the available data on capital flows point to the continued interest of Japanese investors for foreign assets. According to him, what could be seen in the last few days is probably the beginning of a long and intensive process of capital outflows from Japan and the yen is likely to be the weakest of the currencies of the G7 in this quarter. In BNYM believe that the dollar / yen is poised to reach levels near Y95/Y96, but it is believed that a more active growth (for Y100) in this quarter can be expected. According to Woolfolk, the preferred strategy now is to sell the yen against the U.S. dollar, while also interested in such pairs as AUD / JPY and CAD / JPY.

RBS prefer to buy Canadian Dollar

As the currency analysts RBS, solutions FOMC Fed and the Bank of Japan supported the appetite for risk, which in turn promoted the growth of commodity currencies, particularly the Australian dollar, Norwegian krone and Canadian dollar against the U.S. and Japanese currencies. Yesterday's comments Finance Minister of Canada about the relatively good condition of the state budget support the view that the Canadian dollar has all the advantages for further growth until the market's attention is focused on sovereign risk, especially among the "Big Four". As a trading strategy at the bank prefer to buy the Canadian dollar against the U.S. dollar and Japanese yen. At the moment pair dollar / Canada is at the level of 1.0123, Canada / yen is trading at around 89.44.

Barclays Capital predicts further growth in the Canadian currency against the dollar

As the currency analysts Barclays Capital, break below 1.0225/05 area in the pair dollar / Canada is an encouraging sign. Now, the bank expects a further reduction to the level of a pair of 1.0025, and then to 0.98 later in this year. Strategists Bank added that the catalyst for further growth of the Canadian currency may be a break below 0.9240 in bet Aoussa / Canada (now at 0.9333) and below 1.39 in a pair of Euro / Canada (now at 1.3903). At the moment pair dollar / Canada is at around 1.0110.

UBS recommends to sell pound against the franc

Pound / Franc after some stabilization in the early months of the last few days and resumed its downward movement today has reached fresh lows since March last year, again checking the strength of the defense in the Bulls Shf1.5900. It attempts to develop a pair of downward movement has continued to meet resistance, but currency strategist at UBS noted that the overall technical picture and the fundamental factors seem favorable for the bears. The bank recommended use levels are near Chf1.5980 for sales with a stop at Chf1.63 and calculation of the drop to Chf1.52, drawing attention to the risk that the Bank of England will have to go to the increase in quantitative easing.

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.

Deutsche Bank: the dollar will continue to strengthen against the yen

According to currency analysts Deutsche Bank, the U.S. dollar continues to strengthen against the Japanese yen, as markets began to consider a more confident compared with the predictions restoring the U.S. economy and high interest rates outside of Japan. Also, note in the bank, the markets are increasing speculation about a possible mitigation of monetary policy the Bank of Japan, which would be a sharp contrast to the tightening of policy in other countries. Analysts do not expect the bank's change of course the Central Bank of Japan, but speculation Japanese monetary policy can have a significant impact on the yen. The bank recommended investors to choose the yen as the currency of funding instead of the dollar and the franc. Strategists Bank expects growth of a pair of dollar / yen to a level of 100.00 during the three months and to a mark of 105.00 during the year. At the moment pair dollar / yen is at 90.66.

BNP Paribas forecasts the pound falling to 1.4590

Tuesday pound / dollar fell below 1.50 after the publication of data on the housing market in the UK and disturbing reports of rating agencies about what the consequences would reduce state. support British banks. According to the Royal Institute of certified real estate appraisers, the balance of house prices in February fell to 17, with the figure for January was revised downward to 31. The February fall is considered the most significant since April 2008. BNP Paribas analysts believe the breakthrough valuable support in the field of 1.4975 opens the way for the bears to 1.4590. "Meanwhile, now pound / dollar traded at 1.4944 area and test the foot in the area of 1.4940. A clear break below this level will lead to a fall to 1.4910/00 and Further, to 1.4885.

JP Morgan: The U.S. economy will grow at a rate above average

JPM economist Jim Glassman says there is no need to worry about the budget: "The world is beginning to wake up from sleep pink. The economy will grow evenly from quarter to quarter, however, a deep recession ended, and macroeconomic policies remain supportive. Thus, there is every reason to believe that in 2010 growth will be above average. " "Only once, during reconstruction in 1983, the Fed began raising rates when unemployment above 9%, but then double-digit inflation."

NAB recommends buying the euro against the dollar and pound

Euro / pound in recent days has managed to rise significantly higher today after a break above stg0.90 bulls found the strength to leap to fresh highs in the stg0.9150. To date, the couple against a background of profit-taking following an adjustment, and now rests near stg0.9057, while achieving the resistance line with highs 2008/nachala end of 2009 suggests that the possibility of greater downward movement in the short term. Currency strategists NAB, however, advised to remain optimistic and viewed as an attempt to reduce the opportunity to buy with a stop at stg0.8815, given the slight improvement in the technical picture. The bank also obaraschayut vnimnanie the fact that, although the mood for euro / dollar remains negative, the events of recent days indicate some stabilization of couples. In National Australia Bank believe that the risks have increased upward correction and recommend buying the euro against the dollar with a stop at $ 1.3425.

BNP Paribas expects further growth in the euro / pound

As the currency analysts BNP Paribas, the euro / pound overcame resistance in the 0.8840/60 area, as well as the resistance of the downtrend line from the October peak. According to the bank's strategy, the dynamics of couples indicates that an important foundation has been formed. Thus, the Bank expects continued growth in the euro / pound to the target levels of 0.9055 and 0.9155. Currently, the euro / pound is at 0.8922, slightly below the 6-week high 0.8933.

Deutsche Bank predicts lower euro / dollar in the next months

According to currency analysts Deutsche Bank, in the following months, the European currency may drop to 6% against the U.S. dollar against the backdrop of speculation that the Fed will raise interest rates before the European Central Bank. As noted in the bank, analysis of changes in euro / dollar indicates that in the next couple months, probably will be traded at the lower range of $ 1.2750 - $ 1.3000 and possibly even fall to the bottom border. The cause of the next wave of decline of the euro / dollar is likely to be record prices in the market beginning of the cycle of rate hikes the Fed, rather than the further revaluation of the fiscal risks within the euro area. Currently, the euro / dollar was at $ 1.3588.

Scotia Capital expects to further reduce the dollar / Canada

As the currency analysts Scotia Capital, the Canadian dollar keeps relatively well in the overall strengthening of U.S. currency and some weakening in commodity markets. Despite the decline in currencies of Canada earlier this week, the Friday drop in the dollar / Canada has strengthened the two-week downtrend couples. As the resistance in the bank raise the level of 1.0470. However, as the dollar / Canada is kept below 1.05, reduction remains the preferred scenario. At the moment pair dollar / Canada is at around 1.0430.

CitiFX recommends selling the euro / pound

Currency strategists CitiFX announced the opening short position on a pair euro / pound at stg0.8796 with a stop at stg0.8860 and descending to stg0.8400.

UBS: the British pound may continue to decline

According to currency analysts UBS, the British pound may continue to decline due to the fact that the sluggish pace of recovery of the UK economy will not allow the Bank of England to begin raising interest rates soon. The bank drew attention to the growing likelihood that the Bank of England will begin the process of normalization policy later than other central banks of the Group of Ten. Thus, medium-term downside risks to the British currency increases. The bank changed the outlook for rates in the UK and now believe that the end of 2011 the central bank will lower the rate to 2.25% (last forecast bank 3%). Now the rate stands at 0.5%. As for the British pound, the bank recommends selling the currency against the U.S. dollar at $ 1.5455 to $ 1.50 and closed position in the case of growth of pound / dollar to $ 1.5610. At the moment couple pound / dollar was at $ 1.5421.

Standard Bank recommends to sell pound / dollar

Pound / dollar is trying to jump higher with fresh session lows, but sentiment remains negative, and currency strategist at Standard Bank recommends open short positions at current levels with a stop at $ 1.5750. The bank expects a further reduction of the British currency, the original purpose of which will support around $ 1.5170, and the subsequent - $ 1.4950. Pound is currently traded near $ 1.5394.

ANZ expects growth in dollar

Upward movement of U.S. currency in recent days, several stalled, but a currency strategist with ANZ Bank believe that talk about the fact that the potential upward movement has been exhausted, not worth it, and attempts to reduce the use for purchases. The index shows the dollar has consolidated below recent highs of 80.68/74, and while the bank did not rule out some adjustment, they draw attention to the fact that 55 and 200-day moving averages are close to forming bullish cross. In addition, the dollar remains in an uptrend, and the ANZ Bank will calculate its development towards resistance at 82.66 points.

Barclays Capital holds negative outlook for the euro / dollar

As currency strategists believe Barclays Capital, below the break last week, 8-month low of 1.3585 in pair euro / dollar is evidence of the resumption of the downtrend. The next target in the reduction of a pair of bank analysts put a mark 1.3420. With regard to upward movement of the euro / dollar, just above the closing level of 1.3775 would be bearish forecast of a refutation of the bank. Currently, the euro / dollar is trading at around 1.3616.

UBS holds negative outlook for the Australian dollar

As the currency analysts UBS, data on employment in Australia, exceeding analysts' predictions, have supported the Australian currency, and the pair AUD / USD briefly rose above the level of 0.8900. The bank believed that the couple be able to overcome resistance at 0.8928. Nevertheless, while AUD / USD is kept below Fibonacci resistance at 0.9042, strategy has a negative prognosis for the pair with a view to reducing the short-term support at 0.8710 area. Currently, AUD / USD is at 0.8874. Pair continues to consolidate near 0.8880. As the dealers, in the case of growth above the figure, the pair stumble at Ofer in the field of 0.8910. Above this level of orders for sale are concentrated in the area of 0.8950.

Lloyds considers possible rise in the euro / dollar

According to currency strategists, Lloyds, the euro / dollar is looking forward to the designated meeting on Thursday the EU, which should shed more light on how the EU is close to that to intervene in Greece. Today the spread of 10-year Greek and German bonds has decreased slightly, allowing the euro / dollar rise in the region above 1.37. Analysts say the bank, break above 1.3848 could trigger a wave of coverage of short positions and determine the probability of growth to the level of 1.40 a pair. Currently, the euro / dollar is trading at around 1.3755.

Commerzbank maintains downward forecast for the dollar / yen

After falling to a 6-week low at 88.50 pair dollar / yen consolidated above the level of 89.00, and even attempted to develop the upward movement. However, Commerzbank currency analysts believe that further attempts to increase a pair of obstacles encountered in the vicinity of 90.22/30, and while the dollar / yen remain below resistance at the 91.30 level, the proposal will dominate the demand. The bank continues to hold a negative prognosis for the pair and expect to reduce the dollar / yen to the 88.25/00 area, which is 61.8% correction and at least October 2009. From these levels, according to currency analysts bank permanently. At the moment pair dollar / yen is trading at around 89.50.