(Bloomberg) -- ABN Amro Holding NV and Standard
Chartered Plc cut their forecasts for the yen as the lowest
interest rate among major economies prompts Japanese individuals
to buy higher-yielding assets overseas.
The yen will drop 2 percent against the dollar through the
end of September as investors use the currency to fund so-called
carry trades, Thomas Harr, senior foreign exchange strategist,
said in an interview. The two lenders disagree with Deutsche
Bank AG and UBS AG, the world's two biggest currency traders,
who forecast a stronger yen.
Read more at Bloomberg Currencies News
Chartered Plc cut their forecasts for the yen as the lowest
interest rate among major economies prompts Japanese individuals
to buy higher-yielding assets overseas.
The yen will drop 2 percent against the dollar through the
end of September as investors use the currency to fund so-called
carry trades, Thomas Harr, senior foreign exchange strategist,
said in an interview. The two lenders disagree with Deutsche
Bank AG and UBS AG, the world's two biggest currency traders,
who forecast a stronger yen.
Read more at Bloomberg Currencies News
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