UBS Increases Yen Forecast, Targets 95 per Dollar in One Month

By Justin Carrigan

April 28 (Bloomberg) -- UBS AG, the world’s second-largest foreign-exchange trader, raised its one-month forecast for the yen versus the dollar.

The Japanese currency will trade at 95 per dollar in a month, strategists including London-based Geoff Kendrick wrote in a research note today. The bank’s previous prediction was 100 per dollar. The yen was at 96.10 as of 6:33 a.m. in London.

Improved conditions “could be yen-supportive amid the current economic cycle,” the team wrote.

To contact the reporter on this story: Justin Carrigan in London at jcarrigan@bloomberg.net