GFT hits top with 12-month euro-yen prediction
Online currency trading firm GFT has topped this week’s 12-month currency forecast rankings with expectations that the US Federal Reserve’s focus on asset prices would support risk trades.
On June 4, 2010, GFT predicted EUR/JPY would rise from 112.5 to 117, which proved entirely accurate as the currency pair traded at 117.3 on June 6, 2011.
“We felt the 108 to 112 area offered quite a bit of support from a technical perspective and would provide a base to rally from,” said Justin Biebel, manager
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