Yen will weaken ! But I think not in this week.
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Thread: Yen will weaken ! But I think not in this week.

  1. #1
    Registered user jackcm's Avatar
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    Question Yen will weaken ! But I think not in this week.

    Today, I've read reports made by @Gamer:
    The yen dropped to its lowest level in seven weeks after U.S. President Barack Obama called for a pause in authorizing military strikes on Syria, and a worldwide equity rally eroded demand for Japan’s currency as a haven.
    The yen has fallen 1.6 percent in the past week, the biggest loss among 10 developed-market currencies tracked by Bloomberg Correlation Weighted Indexes. The dollar rose against its major peers before Federal Reserve Bank of New York President William C. Dudley speaks tomorrow amid forecasts that policy makers will announce a slowing in bond purchases next week. The pound traded near the highest since June before data estimated to show U.K. jobless claims fell for a 10th month.

    “Obama is talking conciliation and a delay of any military strike, so that will be a positive for risk,” said Tony Allen, the global head of Group of 10 currency trading at Australia & New Zealand Banking Group Ltd. (ANZ) in Singapore. “We should see the yen weaken.”

    source_http://www.bloomberg.com/news/2013-09-10/yen-near-7-week-low-as-syria-tensions-ease-before-fed-s-dudley.html
    In my view,

    I agree that Yen will weaken but not in this week. It is because we are not sure that whether Fed will taper its bond-buying program in next week though most analysts forecast it will. Moreover, US dollar is still affected by non-farm payrolls (Aug) worse than expected.

    Therefore, the uncertainty is still there and I think Yen, safe-haven currency, will not weaken in this week.

    What do you think?

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    The yen has already weekend immensly,although this is mainly for the fact that they want to boost there export base by weaking the yen to favour business but I belive that as we approach 2014 mainly after the first quarter I expect the a strength in the yen so for long term traders look to buy yen in the second quarter of 2014.

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    i think that yen will strength and will move in up and so the other currencies may go down against it, yes is a good currency and most of pairs that has it has a good movement and help the trader to make good profits but sometimes it become slow and so the trading with it will not be good and wait until find good movement again.

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