Forex Flash: Further EUR/JPY appreciation justifiable - ANZ
Forex pairs in this Article »
EUR/JPY
FXstreet.com (Barcelona) - Euro remains well underpinned "as downturn moderates and growth outlook brightens", note Brian Martin and Amber Rabinov, analysts at ANZ research.
"The data flow from Europe on the activity, external and government accounts is showing signs of improvement as 2013 gets underway and the risk is that growth may surprise on the upside this year" Brian and Amber argue.
ANZ analysts add: "Our expectation is that the USD will continue to lose its reserve premium as the world moves further away from the crisis era. So too will sterling and the CHF, underpinning a firmer EUR on the crosses whilst policy dynamics in Japan and a normalisation in the JPY exchange rate against the EUR could justify further appreciation in EURJPY."
"The data flow from Europe on the activity, external and government accounts is showing signs of improvement as 2013 gets underway and the risk is that growth may surprise on the upside this year" Brian and Amber argue.
ANZ analysts add: "Our expectation is that the USD will continue to lose its reserve premium as the world moves further away from the crisis era. So too will sterling and the CHF, underpinning a firmer EUR on the crosses whilst policy dynamics in Japan and a normalisation in the JPY exchange rate against the EUR could justify further appreciation in EURJPY."
Free Annual Reports
