Thursday, July 14, 2011

Wells Fargo: USD/JPY will gradually appreciate

Analysts at Wells Fargo are bullish on the greenback versus Japanese yen in the medium term. In their view, the pair USD/JPY will be appreciating slowly, but steadily.

The specialists expect US currency to rise this year to 82.00 and then strengthen to 85.00 by the middle of 2012 and to 90.00 by the end of next year.

Despite the fact that yen has gained much on the risk aversion created by the debt problems in the euro area and weak US economic data, the bank believes that yen has already reached its maximal levels.

writed by FBS Holdings © 2011

Chart. Daily AUD/USD

daily usdjpy 18-49