Market divided on sustainability of yen slump
A year on from the Japanese earthquake and tsunami that caused the yen to surge to record highs in 2011, participants in the foreign exchange market are divided on whether the recent period of yen weakening is the start of a long-term trend, or rather the result of short-term factors relating to other currencies.
Barclays Capital yesterday revised its USD/JPY forecasts upwards, projecting the pair will climb to 88 in three months and 90 in six months. USD/JPY was trading at 83.41 this morning
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