U.S. Dollar May Fall to 92 Yen by Year-End, TD Securities Says
May 14th, 2009 | by admin | 72 viewsMay 14 — The U.S. dollar may extend this week’s decline against the yen as the geenback loses its allure as a refuge from the global financial crisis, TD Securities analysts wrote yesterday in a note to clients.
Investors may benefit by adding to bets against the dollar, with the geenback expected to reach 92 yen by year-end, wrote analysts led by Stephen Koukoulas, global strategist at TD Securities in London. TD also recommended selling the pound against the yen, targeting a slide in the British currency to 139 yen.
The U.S. dollar was at 95.38 yen as of 8:59 a.m. in Tokyo and the pound traded at 144.11 yen.
