Yen May See Further Strength Against U.S. Dollar, RBS Says

By Daniel Tilles

Sept. 3 (Bloomberg) -- The yen may keep rising against the dollar, according to Royal Bank of Scotland Group Plc.

“Risk aversion is working on this front, and the yen has tended to move more easily to the strong side lately,” Greg Gibbs, a foreign-exchange strategist at the bank in Sydney, wrote today in a report. “Japanese retail-margin traders are well short yen, and this poses a risk of further strength.”

The dollar climbed 0.1 percent to 92.34 yen as of 7:55 a.m. in London.

To contact the reporter on this story: Daniel Tilles in London at dtilles@bloomberg.net