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Forex Flash: NZD/JPY heads towards 89.00 - BNZ

FXstreet.com (Barcelona) - As ‘carry trade’ activity picks up through dumping the Yen to buy higher yielding offshore assets, the NZD/JPY seems to be heading towards 89.00 by year-end, says Mike Jones, Currency Strategist at BNZ.

"The trend for a weaker JPY shows no sign of slowing down and we have bumped up our year-end NZD/JPY forecast to 89.00. The risk is for an overshoot" says Mr. Jones.

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