Dollar Hits 2009 High Versus Yen as U.S. Jobs Gain Tops Forecast – Bloomberg 03-08-13

Salient to Investors:

Omer Esiner at Commonwealth Foreign Exchange says a growing list of economic indicators suggest a broad-based recovery, and the market is focusing on the US recovery gaining steam, while other major economies remain in stagnation and contraction.

Richard Franulovich at Westpac Banking  said risk appetite is firming and we are in a potentially momentous correlation shift, whereby the dollar is now a growth currency.

Bill Gross at Pimco said the larger-than-forecast increase in US employment last month won’t prompt the Fed to alter its stimulus, and expects the US economy to grow 3 percent in 2013.

The yen’s 14-day RSI versus the dollar is below 30, inndicating it has fallen too far, too quickly.

Vassili Serebriakov at BNP Paribas said most of the Japanese weakness is behind us, though it will be difficult for the BOJ to deliver higher inflation down the road.

The median economist predicts the euro at $1.30 at year end 2013, and the yen to be at 96 per dollar.

Read the full article at http://www.bloomberg.com/news/2013-03-08/dollar-extends-gain-versus-yen-as-u-s-jobs-growth-tops-forecast.html

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