Yen set for further weakness, says Bank of Montreal
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Bank of Montreal (BMO) has topped this week's 12-month currency forecast rankings after taking the view in late 2011 that an easing of the eurozone crisis would result in a stronger euro, while the yen would begin to weaken.
On December 2, 2011, BMO predicted USD/JPY would rise from 77.96 to 79 in 12 months' time, while EUR/JPY would climb from 105.19 to 108. The bank's directional view on both pairs proved to be accurate, with USD/JPY trading at 82
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