If Greek debt crisis solves over the weekend, Yen is likely to lose grounds against dollar.
- Resolved Greek crisis would remove the cloud of risk aversion, which usually works in favor of Yen. That will make Yen a sell against dollar as monetary policy divergence comes back in focus. Dollar is currently trading at 123.9 against Yen. With support around 122.2-122.6 area, dollar is likely to move beyond 125 mark against Yen.
- With Bank of Japan (BOJ) printing money at record pace and Bank of England (BOE) looking to raise rates, Pound is also likely to remain well bid against Yen. Pound is currently trading at 194.9 against Yen. With support around 193 area, pound is likely to trade as high as 195 against pound.
The material has been provided by InstaForex Company – www.instaforex.com