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Standard Bank Says Buy Euro Versus Yen, Dollar Against Krone

Oct. 1 (Bloomberg) -- Standard Bank Plc advised buying the euro against the yen and the Australian dollar, and also recommended purchasing the U.S. Dollar versus Norway’s krone.

Investors should buy the euro against the yen, betting the single currency will appreciate to 119.50 yen, Steve Barrow, head of research for Group-of-10 currencies in London, wrote today in an e-mailed note. They should end the trade if the euro weakens to 111.90 yen, he said.

Barrow also advised buying the euro against the so-called Aussie dollar, betting it will strengthen to 1.4430.

He said investors should bet the U.S. dollar will appreciate to 5.9560 against the krone.

The euro rose 0.4 percent to 114.35 yen as of 1:31 p.m. in London. Against the Australian dollar it was little changed at 1.4114.

The dollar fell 0.5 percent against the krone to 5.8465.

To contact the reporter on this story: Paul Dobson in London at pdobson2@bloomberg.net

To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net

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