Yen will continue to weaken, says StanChart
Standard Chartered has topped this week’s three-month currency forecast rankings after predicting in early June that despite a recent bounce, the yen would resume its weakening trend against the dollar and the euro.
On June 7, with EUR/JPY trading at 127.62, StanChart forecast the pair to strengthen to 131 in three months as the US Federal Reserve had only recently indicated its intentions to scale back quantitative easing. By September 2, EUR/JPY had indeed rallied and was trading up at 131.11
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