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Forex Flash: Yen risks to the weaker side - UBS

By FXstreet.com,  March 28, 2012, 07:25:00 PM EDT

FXstreet.com (Barcelona) - The US dollar was supported by the combination of downbeat data, soft tone in equity markets and weakening commodity prices. The big Monday negative USD moves - day when Bernanke put on its 'pro-QE3' disguise - have been mostly offset now.

According to UBS Cameron Umetsu, USD/JPY still looks set to gain further: "We still expect the 'home currency bias' of yield-hungry Japanese investors to fade further once the new fiscal year kicks off next week, tilting yen risks to the weaker side. As always, much will hinge on the data flow to the extent it remains sufficiently robust to keep the Fed on hold - as we expect. Jobless claims will be the key US data attraction today."




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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