BLBG: Sell U.S. Dollar Against Euro, Japanese Yen, Standard Bank Says
By Anna Rascouet
Jan. 13 (Bloomberg) -- Investors should sell the dollar against the euro and the yen, according to Standard Bank Plc.
“Our indicators have been positive of euro-dollar since January 5th,” Steven Barrow, head of Group of 10 currency strategy at Standard Bank in London, wrote in a note to clients today. “Our dollar-yen recommendation has turned short from long.” A short position is a bet that a security will fall.
Investors should buy the euro targeting $1.4910 and end the trade at $1.4260, the bank said, and sell the dollar targeting 89.70 yen and end that trade if it reaches 93.30 yen.
