Excerpt from: Futures and Commodity News
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| July 02, 2007 | | Spread bets, CFDs and spot forex trading | Spread bets, CFDs and spot forex trading should consider that the Japanese yen is up a bit today on the spot forex market. The Tankan survey is prompting some analysts to assume that the Bank of Japan may raise interest rates next month. However, it is unlikely that the Japanese yen will retain its gains in spot forex trading, according to one strategist, reports Forbes:
Most market economists consider that the Tankan results will allow
the Bank of Japan to raise its overnight call rate target by 25 basis
points next month. But Westpac Bank strategist Jonathon Cavenagh
said: 'There is not much in today's data for the yen to get a real leg
on. I would probably look to sell into this strength on a medium-term
perspective.' | | |
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