Dollar/yen on the move

Posted by Scriptaty | 9:35 PM

Most currency strategists foresee additional yen appreciation between now and year-end. By the end of September, BNP Paribas’ Fink sees potential for dollar/yen to retreat toward the 107.00 level. By year-end, she sees dollar/yen at 105.00, and a move below 100.00 by mid next year.

Economy.com’s Hughes has the most bullish outlook, with a forecast of dollar/yen at 104.00 by year end. Some analysts advised playing the yen on the crosses for the most bang for the buck. “We would favor buying the yen against the Aussie, the Euro, the Swiss franc, and the sterling,” Rogers says. “We are starting a big bull market in the yen against other currencies. But, the dollar still has good support from investment flows.”

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