Jul 18 2014

Rate Range Projection by Bank

 Next week 100.50- 101.50

Next 3 months 100.00 - 105.00

 

The euro fell below $1.35 for the first time in five months. A gauge of the dollar dropped from a four-week high after U.S. consumer confidence declined.“Investors were left trying to answer questions of how does this affect order flow and my positions, and the answer is, it’s not clear yet,” said Richard Cochinos, the head of Americas Group of 10 currency strategy at Citigroup Inc. in New York.

 

The yen weakened as demand for haven assets waned after a surge yesterday amid turmoil in Ukraine and Gaza pushed the Japanese currency to the strongest level versus the euro in five months. Japan’s currency dropped against 27 of its 31 major peers, with higher-yielding counterparts including Brazil’s real and Indonesia’s rupiah gaining, as President Barack Obama said a surface-to-air missile launched from insurgent-held territory in eastern Ukraine brought down a Malaysian jetliner yesterday.

 

“I don’t think it’s risk-on. People are generally cautious over the weekend -- I think it’s unresolved in their minds.”The yen fell 0.2 percent to 101.34 per dollar at 5 p.m. New York time after gaining 0.5 percent yesterday. Japan’s currency slipped 0.2 percent to 137.08 per euro after earlier appreciating to 136.71, the strongest level since Feb. 5. It gained 0.6 percent for a second week. The euro was little changed at $1.3524 after reaching $1.3491, the lowest level since Feb. 6.