ANZ’s yen forecasts buoyed by G-7 intervention
ANZ has topped this week's one-month currency forecast rankings after the unfolding events in Japan brought the yen back towards the levels it had predicted in February.
On February 18, the Australian bank predicted USD/JPY would be at 84 and EUR/JPY would be at 111 in a month's time. On March 17, USD/JPY sank to a record low of 76.59 and EUR/JPY dropped to 106.50 as the yen strengthened dramatically in the wake of the earthquake and tsunami that struck Japan on March 11.
But to ANZ's advantage
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