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European Dollar surges against the Japanese Yen

Posted by Adrian on November 29, 2006

The Euro has been an exceptionally solid currency to hedge on. Especially against the JPY. Bank of Japan has, and it seems like a trend lead by the Federal Reserve in the US, to keep rates unchanged, or keep them on hold. The Yen has been declining against most currencies which has been a constant decline in the last 8mths. So it seems like a downward trend for the Yen. The Euro on the other hand has been increasing rapidly against the Yen, with the possibility that the European Central Bank will increase interest rates will give added strength to the Euro.  Go long on the Euro against the JPY – Take Profit range at 153.60Yen and 153.70Yen.

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