Nov 14 2014

Rate Range Projection by Bank 

Next week 114.50- 116.50

Next 3 months 110.00 – 120.00

 

The euro rose and the yen trimmed its weekly loss as U.S. Treasury yields fell before the Group of 20 summit meetingtomorrow. Brazil’s real fell to a nine-year low on allegations of corruption and money laundering at its state-run oil producer. The dollar rose, reaching a seven-year high versus the yen, as reports showing gains in retail sales and consumer confidence boosted optimism growth in the U.S. economy is gathering momentum.Switzerland’s franc headed for a sixth weekly advance versus the euro and prompted speculation the nation’s central bank will intervene to defend its cap.

 

“The October data showed a solid gain,” said Vassili Serebriakov, a New York-based foreign-exchange strategist at BNP Paribas SA.The dollar is up 8 percent this year, the strongest gain among 10 developed-market currencies tracked by Bloomberg Correlation-Weighted Indexes. The euro has lost 2.6 percent while the yen has declined 3.3 percent. “There’s obviously some caution ahead of the G-20 meeting. It’s a meeting that includes some of the emerging-market countries that have concerns over the weaker yen.”

 

The dollar advanced 0.5 percent to 116.29 yen at5 p.m.New York time, and reached 116.82, the highest level since October 2007. It fell 0.4 percent to $1.2525 per euro. The 18-nation common currency added 0.9 percent to 145.67 yen.