Comments and forex-analytics from FBS Brokerage Company - page 45
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UBS: bearish view on USD/JPY
The greenback keeps trading in a very narrow range of 35 pips versus Japanese yen since the beginning of the week.
Technical analysts at UBS are bearish on the pair USD/JPY. In their view, if US dollar breaches 80.00, it will be poised down to May 5 minimum of 79.57.
According to the bank, if the pair goes up it will face resistance at June 13 maximum of 80.68.
RBS: euro will fall to $1.30 by the beginning of 2012
Currency strategists at Nomura International claim that the underlying debt issue in peripheral euro zone’s nations will keep justifying high risk premium on euro. The situation in the region keeps being very tense and uncertain.
Financial Times reports that Antonis Samaras, leader of the opposition in the Greek parliament, said that party will vote against the government’s new austerity measures on June 28. On July 3 European finance ministers will decide whether Greece has met conditions for its next aid payment. In addition, European Central Bank President Jean-Claude Trichet warned that euro zone’s financial stability is danger as the debt crisis threatens to infect banks.
Analysts at Royal Bank of Scotland advise investors to sell the single currency at $1.4420 as they believe that the pair EUR/USD will drop by 9.8% hitting $1.30 at the beginning of 2012. Among the reasons for such forecast the specialists cited the future slowdown of European inflation and stumbling Spanish economy on the back of US economic rebound.
BBH: outlook for EUR/USD and GBP/USD
EUR/USD
Technical analysts at Brown Brothers Harriman, the biggest and oldest private bank in the United States, say that the single currency has fallen sharply today and got below $1.4200.
According to the specialists, the pair EUR/USD may find support at $1.4160. However, the bank warns that euro may be poised down to $1.4080 and hit this level before the weekend unless there is some positive news for the pair.
GBP/USD
The strategists also think that British pound will keep depreciating versus its American counterpart as it has already dropped below the 200-day MA for the first time since the beginning of the year. In their view, the pair GBP/USD is moving down to $1.59.