Forex Blog: Currency Trading News & Analysis.

August 1st 2005

Bloomberg Survey shows Yen strength

Bloomberg news recently conducted a survey, asking professional currency traders to gauge their sentiments on various currencies. While there was tremendous variation in the results, a majority of traders admitted optimism in the Yen. A Citigroup analyst opined that bearish sentiment on the Yen had reached ‘extreme’ levels, and he was now advising clients to take positive positions. Other analysts agreed, noting renewed confidence in Japan’s economy. However, many were careful to note that the failed privatization of Japan Post would not be good for the Yen. Japanese lawmakers are set to vote on the bill by August 5th.

Read the full results of the survey

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Posted by Adam Kritzer | in Investing & Trading, Japanese Yen | No Comments »

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