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Feb 27 2015

Rate Range Projection by Bank 

Next week 118.50- 120.50

Next 3 months 112.00 - 127.00

 

 

Against a basket of currencies the dollar took a breather after surging to a one-month high, on the last day U.S. economic data and comments from Federal Reserve officials expected investors to raise their bets on a rate increase.FX strategist for Bank of Singapore said "ECB QE is going to cap any euro rebound. And Sim Moh Siong, said I think the catalyst for next leg lower in the euro will come from the dollar side of the story," on Thursday showed that the U.S. core consumer price index, which excludes food and energy costs, rose 0.2 percent in January, more than the 0.1 percent increase economists had expected, even as overall CPI fell 0.7 percent because of falling oil prices.

 

Kaneo Ogino, director at Global-info Co in Tokyo, a foreign exchange research firm said "After the data, people are more comfortable about expecting a U.S. interest rate hike, and taking on long dollar positions”. Whereas, durable goods orders also rose 2.8 percent in January, though the upbeat readings were tempered by a bigger-than-expected rise in new applications for unemployment benefits. The dollar eased 0.2 percent against the yen to 119.15 yen JPY=, but remained above, on Thursday's intraday low of 118.68 yen.



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