Euro to Strengthen 4% Against Yen to 102.50 Yen, HSBC Says
The euro is poised to strengthen about 4 percent against the yen, HSBC Holdings Plc strategists, led by David Bloom, wrote in an e-mailed report today.
“The balance of risks for the yen seems to have shifted towards a retracement, especially against the euro,” they wrote.
Investors should buy the euro at 98.40 yen and sell it once it has appreciated to 102.50 yen, HSBC recommended. They should exit the trade if Europe’s shared currency weakens to 95.95 yen.
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