One market strategist predicts that during the next several months, the value of the US dollar will probably continue to decline relative to the Japanese yen, especially since there may still be opportunity for the yen-funded “carry trade.”
On Wednesday, Geoffrey Yu, senior EMEA market strategist at BNY, “Street Signs Europe” that it was anticipated that the dollar will continue to weaken against several major currencies until the end of the year.
As market players prepare for the announcement of preliminary revisions to U.S. labour data on Wednesday, he made his remarks following another day of dollar selling on Tuesday.
After briefly falling below the heavily watched 145 yen mark for the first time since January 6, the dollar was trading 0.6% higher at 146.09 yen at approximately 11:50 a.m. London time on Wednesday.
Source (CNBC)
