OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex Flash: USD/JPY year-end target at 105.00 – Scotiabank

FXstreet.com (Barcelona) - After climbing to fresh highs in the area of 102.80 (4 ½ years highs), the cross initiated a correction lower to the current region of 102.40/45, although the market is broadly framed within the bullish momentum in the USD.

In the opinion of Camilla Sutton, Strategist at Scotiabank, the recent upside in the cross is mostly due to the USD renewed strength, adding “For upside to continue (which we expect) we will likely have to see a broadly stronger USD combined with further evidence that investors are favouring moves outside Japan. We hold a year-end USDJPY target of 105.00”.

Euro moves toward 2013 lows

Despite a short-lived setback, the dollar continues to build a bullish trend, advancing versus most competitors. The greenback faced some profit taking after the latest string of US data, including NY manufacturing index, producer prices and industrial production, came in weaker-than-expected, supporting the case that it is too early for the Fed to tapper its QE3 program.
Read more Previous

Forex: USD/CAD erases gains

The loonie has managed to reverse losses versus the dollar during the American session as disappointing US data weighed on the USD.
Read more Next
Start livechat