OctaFX | OctaFX Forex Broker
Open trading account

Flash: USD/JPY still projected to reach 110.00 by year-end – UBS

FXstreet.com (Barcelona) - Large Japanese banks are actually behind the JGB selling according to the latest data – these banks have JGB portfolios with weighted average maturities in the region of three years, which explains why the selloff was concentrated at the front and belly of the curve.

These banks are also the biggest holders of JGBs, so should we be concerned? Perhaps a little - especially if the same selling pattern extends over the coming months. But for now it is some consolation that Trust banks, Toushins, and even lifers seem happy to take the other side of their trades. According to Research Analyst Gareth Berry at UBS, “We still look for the USD/JPY to reach 110 by end-2013 and we do not need a JGB market rout to get there.”

EUR/USD remains in highs around 1.2945/50

The bloc currency keeps trading in the upper end of the intraday range around 1.2945/50 on Monday...
Read more Previous

Flash: EUR confined to range last week - BBH

Brown Brothers Harriman analysts note that the euro was confined to the previous week's trading range and chopped around a roughly $1.2820-$1.3000 trading range.
Read more Next
Start livechat