dollars against the yen on Wednesday (June 8) fell to below 80 per cent of one-month low, after Asian stocks fell as a whole, rising risk aversion sentiment crashed, Yen usher in massive repurchase, and the Federal Reserve (FED) Chairman Bernanke overnight comments supporting the United States will temporarily maintain the low expectations of interest rate, the same dollar lower pressure.
JP Morgan Chase Bank traders said Asian stocks pushed lower comprehensive risk aversion, investors extensive buying yen. But Japan, importers and institutional investors United States funds to buy at the bottom 80, provides partial support for dollars.
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National City Bank (Citibank), said Osamu Takashima, Chief currency strategist, technology analysis shows that the dollar/Yen fell to 79. Takashima said, calculated based on the model, when a two-year US bond yields 0.4%, dollar/Yen will be dropped to 78 near the front line level, and the current dollar/Yen rate of 0.433%.
, predicting that fluctuations in the dollar/Yen will remain in the 79.70-80.70 range, he tended to in the current quarter before rising dollar, but this view has been shifted to neutral.
Industrial Bank (601,166, unit) pointed out that the dollar/Yen could fall to 78.05, pull up will not occur until after a wave of backlash. In the dollar/Yen is still in a downward trend is expected to soon fell to lows May 79.55, fell below the target point to 78.05, the dollar/yen, after falling to 78.05, will achieve the rebound.
JPMorgan (J.P. Morgan) in Tokyo foreign exchange strategy at Junya Tanase said in the report, or will before the end of dollar/Yen fell to 78, and even briefly dropped below historic lows 76.25 May. Tanase said the movement of the dollar against the yen in the near future mainly depends on the performance of the dollar. If the dollar rebound, then the dollar against the yen down space are limited.
Germany commercial banking technology Lutz Karpowitz, an analyst noted that the dollar/Yen level of possible future fell to 75. Although Japan Administration said tough intervention in foreign exchange market to prevent the dollar/Yen below 80, but so far no action has yet been. This means that the market will test as much as a low point, did not rule out Japan authorities in dollar/Yen fell to 75 only when the possibility of intervention.
for a stronger yen again triggered by rumours of intervention, Japan being only Japan's Finance Minister, came forward to orally expressed concerns about the yen. Japan's Finance Minister, Noda Yoshihiko (Yoshihiko Noda) said he is closely following the appreciation of the yen, at the same time he acknowledged that market to the United States views may lag behind the actual changes in the economy.
, Barclays Bank (Barclays) on Wednesday (June 8) that, despite the continued weakness in the dollar's recent yen and try 80 psychological barrier, but the market does not have to worry about the resulting Japan authorities on the international markets to sell Yen intervention.
chief foreign exchange strategist at the Bank in Tokyo, Masafumi Yamamoto believes that unless the Yen's strength on Japan's stock market and negatively affect economy, otherwise the Japan Government is unlikely to intervene. Yamamoto expected dollar against the yen this week will run in the 79.00-81.00 region.
Japan market research firm Jefferies Japan Ltd. Japan Policy Department Naomi Fink said, Japan official will not further intervene in the currency market, unless there are promoting the speculative buying of the yen.
Fink said the Japan Finance Ministry and Japan's Central Bank (BOJ) will not repeat the March devaluation of Japanese Yen intervention after the earthquake. Their intervention seems be implemented only when the speculation-led market, rather than a specific exchange rate level.
Colombia business school (Columbia Business School) Japan Economic Trade Research Center Director Hugh Patrick also pointed out that Japan will not implement interference, unless there is a new major shocks.
But Mizuho Financial Group (Mamoru Arai) foreign exchange traders Mamoru Arai believes that if Japan stock market suddenly collapsed, the Group of seven (G7) will increase the possibility of joint intervention,
15:30 ', US dollar/Japanese Yen 79.93/96.
