Westpac benefits from yen weakness
CURRENCY FORECASTS
Kendrick said Westpac's bullish view on the dollar and not getting "overly excited in the short term by the prospects of yen appreciation" has been key to the bank's success.
In November 2005, Westpac predicted an accurate EUR/JPY rate of 138, against a mean of 135, while on USD/JPY, it forecasted 116 versus an average of 117.
For 2006, Westpac remains dollar bullish for the first half of the year, with significant trading activity likely with the yen, said Kendrick. "While most in the market
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