International | Jun 26 2006
Array
(
[0] => Array
(
)
[1] => Array
(
)
)
List StockArray ( )
Unexpected US dollar strength has prompted ANZ senior currency strategist Tony Morriss to re-jig the bank’s short term yen forecasts.
Morriss now forecasts the USD/JPY cross to stand at 110.00 in September 2006, at 105.00 in December 2006, at 102.00 in March 2007 and at 100.00 in June 2007.
The harsher tone coming from the US Fed regarding the risk of inflation has been key to the change in stance, with funds flowing back into the US from commodities and peripheral markets, he says.
In the meantime rising geopolitical tensions in North Korea, as well as the financial scandal surrounding Bank of Japan governor Fukui have helped to subdue the yen.
By Terry Hughes
To share this story on social media platforms, click on the symbols below.
Click to view our Glossary of Financial Terms
Australian investors stay informed with FNArena – your trusted source for Australian financial news. We deliver expert analysis, daily updates on the ASX and commodity markets, and deep insights into companies on the ASX200 and ASX300, and beyond. Whether you're seeking a reliable financial newsletter or comprehensive finance news and detailed insights, FNArena offers unmatched coverage of the stock market news that matters. As a leading financial online newspaper, we help you stay ahead in the fast-moving world of Australian finance news.
