Barclays thrives on risky business
Adarsh Sinha, BarCap's London-based forex strategist, told FX Week the bank expected a sharper short-term yen appreciation than the consensus. This was guided by the belief that the carry trade was likely to unwind further during August, as risk aversion would continue to rise. In a one-month prediction submitted to FX Week on August 6, BarCap forecasted USD/JPY at 117, in contrast to a consensus view of 120.
BarCap also anticipated that the USD would appreciate, although only temporarily, as
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