Apr 04 2014
Us Dollar Drops Versus Yen As Jobs Gains Trail Forecast; Euro Falls
Rate Range Projection by Bank
Next week 102.50- 104.00
Next 3 months 100.00 - 105.00
The below is a topic from market news
“The number disappointed NFP bulls, but it was strong enough so that there was no sign of any unexpected weakening of the economy and not so strong as to worry investors that the Fed would accelerate its withdrawal of liquidity,” said Richard Cochinos, the head of Americas Group of 10 currency strategy at Citigroup Inc. in New York. “Higher-beta G-10 currencies and emerging markets are the biggest winners.” Higher-beta currencies tend to have the greatest volatility.
The dollar fell versus most emerging-market currencies as employment gains that failed to meet traders’ more optimistic expectations boosted speculation the Federal Reserve would remain accommodative. The U.S. currency dropped for the first time in seven days against the yen as nonfarm payrolls rose 192,000 in March, versus a forecast of 200,000. Brazil’s real led the developing-economy rally as its central bank planned auctions to extend maturities on swap contracts that support the currency. Canada’s dollar rose to a four-week high on jobs gains. Fed Chair Janet Yellen said in a speech this week the world’s biggest economy may need central-bank stimulus for “some time.”