Thursday, May 31, 2018

JP Morgan sees end of rally in

JP Morgan sees the end of the rally in the yen

USD / JPY is increasingly gaining momentum (currently - Y108.66), checking the growth potential, and the participants, and market analysts are wondering about the prospects for the pair. "We expect that the ability to go far beyond the Y110 is low in the short term"- JP Morgan analysts say in the report, adding that the JPY is approaching a very weak levels in real terms. JPY, in terms of the effective exchange rate - weighted average exchange rate against the currencies of Japan's trading partners, fell to 65.7 as of Tuesday. She dropped to 64.8 on average in December 2013 - the lowest since the moment when JP Morgan started keeping records in 1970. Shinji Kureda, head of FX-treydingooy group at Sumitomo Mitsui Banking, says he does not expect that the pair will rise too much, adding that, probably, USD / JPY reached Y112 by the end of the year. Source: Forexpf.Ru - Forex Market News

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