announces Dollar Heads for Longest Losing Streak Versus Yen in Nine Years
In the article by John Brinsley quotes projections of the four banks, which account for 34 percent of the $1.9 trillion-a- day currency market
UBS, the world's largest currency trader, lowered its three- month dollar projections to 103 yen from 107, and to $1.36 per euro from $1.30. Deutsche Bank expects the dollar to weaken to $1.43 per euro and to 93 yen by the end of 2005, from previous forecasts of $1.37 and 99 respectively.
Merrill cut its March forecasts for the dollar to 96 yen and $1.39 from 100 and $1.33. JPMorgan cut its estimates to 96 yen and $1.37 per euro in March, from 100 and $1.30 before.