Akira Moroga, chief market strategist at Aozora Bank, said on June 25th that the yen's rise against the dollar on Tuesday may reflect profit-taking by Japanese exporters and dollar selling before the end of the month. Commercial USD/JPY trades often increase on dates ending in 5 or 0, such as the 25th, and tomorrow's 'real demand' trading may increase as spot trades settle at the end of the month. While intervention warnings may make it difficult for the dollar to rise against the yen, some may still want to go long on USD/JPY, making it difficult for the currency pair to decline. The yen is likely to return to the 160 level at the end of this month. In the past four years, the performance of this currency pair has been positive in June and negative in July.
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Banco do Céu Azul do Japão: A valorização do iene pode refletir a demanda das empresas no final do mês
Akira Moroga, chief market strategist at Aozora Bank, said on June 25th that the yen's rise against the dollar on Tuesday may reflect profit-taking by Japanese exporters and dollar selling before the end of the month. Commercial USD/JPY trades often increase on dates ending in 5 or 0, such as the 25th, and tomorrow's 'real demand' trading may increase as spot trades settle at the end of the month. While intervention warnings may make it difficult for the dollar to rise against the yen, some may still want to go long on USD/JPY, making it difficult for the currency pair to decline. The yen is likely to return to the 160 level at the end of this month. In the past four years, the performance of this currency pair has been positive in June and negative in July.