Japanese yen to continue depreciation against greenback: IBs
World BusinessFeb 11, 2013
Global investment banks (IBs) expect the Japanese currency will continue to depreciate against the U.S. dollar in 2013, data showed Monday, sounding alarm bells for the export-reliant South Korean economy.In the latest forecast, 18.3 percent of 60 major global investment banks anticipated the Japanese currency will trade above 100 yen against the greenback in the fourth quarter of this year, market data showed.Credit Suisse predicted an average yen-dollar exchange rate of 105 yen at the end of 2