currency report
As of February 16 (Bloomberg), Japan economy shrinks, and investor had to sell riskier assets. Yen snapped two days of losses against dollar, and the Euro asG7. The pound also fell versus dollar. The Euro also dropped against dollar. As it is seemed to be Japan’s currency may appreciate to 110/Euro next three months. The group accounts for about two-third of the world economy, which is composed of USA, Japan, Germany, U.K, Italy, Canada and France. Exchange rate movement in USA should be volatile today because of the national holiday. According to Bnp Paribas dollar will rises to 1.22 euro and 95 yen by the end of September. Rising Cost of insuring against default by a peripheral European government remains negative background for Euro.
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