Luke Waddington
Luke Waddington
bit call days difficult market next people risk taking three
People are taking a little bit of risk off. It's difficult to make a call over the next two to three days where the market is going to go.
against hold nervous people view
The view that people do hold is that the kiwi will drop. But people are nervous about doing it against the dollar, so they go elsewhere.
bit people risk taking
People are taking a little bit of risk off.
continue guessing impact second situation sort until
This sort of second guessing (in the market) will continue until we actually see what the real impact of the situation is going to be on the U.S.
banks buy chinese good return shares
Chinese banks may want to buy yen and see if they can get a good return on shares in Japan.
early good looking moves next trigger week
We've had some good moves early week and we're looking for another trigger for the next big-figure move in the dollar.
election looking note point reform strengthen
It's also important to note that the point of the election was to strengthen Koizumi's reform mandate, so we'll be looking how he delivers on this front.
hearing lots people react timing tokyo
We're hearing it may be 6 p.m. Tokyo before an announcement comes out, and that's making people think it's a story to react to tomorrow. The timing of it is important because we're hearing lots of rumors.
bigger breaks dollar leg sort until
Until the dollar breaks through some sort of bigger levels...I don't think we're going to get another leg up.
buy dollar funds higher model move sold turning
There's been such a significant move that model funds are turning now and have to buy the yen. Any move higher in the dollar is going to be sold into.
cash effect looking rates rising spare yield
As long as U.S. rates are rising you've got this double-whammy effect of spare cash looking for yield and yield is there,
fact few months people quite theme totally
That's why dollar/yen is totally supported, and people underestimate the fact that this is probably going to be a theme for quite a few months to come.
bank convinced defined easing happening japan line next people quite starting time
This is yen supportive. People are starting to get quite a defined time line on when the Bank of Japan will end its easing and are quite convinced its going to happening next week.
dollar investors japanese
Japanese investors are going into Treasuries. The dollar is going to be very well supported.