State Street expects further fall of the yen

Japanese currency last month, has managed to strengthen its position somewhat, but recovery was again used for the resumption of sales of the yen, supported a reduction in the direction of the recent minima. Currency strategists State Street noted that the outlook for the Japanese currency remains bleak, given that now it is not as attractive as an asset of refuge, as Japanese investors show no particular desire to repatriate the capital, despite recent changes in the enabling legislation. In State Street also drew attention to the fact that the return of optimism in the hearts of investors have a negative impact on the yen, and better moods of market participants are likely to support the increased pressure on it, because Japanese investors are still interested in a higher income than the that can be obtained when investing in Japanese assets. State Street strategists expect that the trend to weaken the yen to continue and develop further, in particular, and together with the dollar. The company noted that in the light seen in the past few months of growth now looks like the Japanese currency is revalued, at least ten percent, and expect to increase the dollar / yen to levels above Y110, and this year.