May 12 (Bloomberg) Auszug:
``The main influence on the yen has been the rebound in equity markets,'' said Kamal Sharma, a currency strategist at Dresdner Kleinwort Wasserstein in London, who predicts the yen may advance to 111 in the next week. ``We are bullish on the Japanese economic recovery.''
Japan will enjoy a ``much stronger and broader recovery than expected,'' the Paris-based Organization for Economic Cooperation and Development said yesterday. It raised its growth forecast for Japan to 3 percent from the 1.8 percent it predicted in November. The group lowered its forecast for the euro region to 1.6 percent from 1.8 percent.
``There are few reasons to sell the yen, especially against the euro,'' said Robert Rennie, currency strategist in Sydney at Westpac Banking Corp. ``The equity market has calmed, adding another reason to buy the yen.'' Westpac tied for first place as the most accurate predictor last quarter of the dollar's value against the yen in a Bloomberg survey of 54 companies. Versus the euro, the yen should be trading closer to 120, said Rennie.
Japanese core machinery orders, which exclude shipping and utilities, probably rose a seasonally adjusted 4.8 percent in March from February, according to the median estimate of 31 economists surveyed by Bloomberg News. The report will be published by the government tomorrow.
``The Nikkei is resuming its advance as Japan's economic recovery has acquired further depth,'' said Xinyi Lu, chief investment strategist in Tokyo at UFJ Bank Ltd. a unit of Japan's fourth-largest lender. ``The yen's trend is up,'' and may rise to 102 per dollar by the end of September, he said.
The yen will strengthen to 103.16 per dollar by the year- end, according to the average of 50 traders and strategists surveyed between March 18 and April 7 by Bloomberg News.
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Der echte Nikkei:
Hebelprodukt Long auf Nikkei, zur Veranschaulichung des Verlaufes in D:
