2011-02-24 07:06 | Send to e-mail Send to facebook Send to twitter Send to Livejornal Send to Google Reader Send to Yandex Send to Yahoo bookmarks RSS analytics from the FBS company Print

As the tensions situation in the Middle East escalate, investors keep buying so-called safe haven currencies – Japanese yen and Swiss franc. Analysts at Bank of Tokyo-Mitsubishi UFJ underline that the uncertainty is now too high and it's unknown what will happen from now. The specialists say that if Libyan leader Moammar Gaddafi steps down, the situation may briefly return to normal. However, the things may get even worse if oil refinery equipment is destroyed, note the strategists.

According to Bank of Tokyo-Mitsubishi, the pair USD/JPY may fall below 82, but it's unlikely to deviate from the recent range between 81 and 84.

Currency strategists at Commerzbank believe that as the pair USD/CHF fell below the key support at 0.9309, it’s poised for further declines lowering to 0.9120 and then possibly 0.9000.



Chart. Daily USD/JPY