Tomoko Fujii
Tomoko Fujii
domestic economy exports figures increase later rate robust shows strong supporting surplus trade
The trade surplus figures showed strong exports and domestic demand. This shows the economy is robust enough to withstand a rate increase later this year, supporting the yen.
economic economy euro expanding faster figures good surely
Good economic figures will surely be euro supportive. The euro-zone economy is expanding faster than expected.
bad bank figures japan modestly policy shift solid toward track
The figures are not so bad and modestly yen positive. The Bank of Japan is on a solid track toward a policy shift this April.
above data quite
It would be quite market-moving if the second-quarter GDP data comes in above consensus.
against asian china dollar including japanese leads pressure strengthen
Pressure on China to revalue against the dollar leads other Asian currencies, including the Japanese yen, to strengthen against the U.S. currency.
factor rate remain single
Short-term rate expectations remain the single most important factor for dollar/yen,
abandon assume difficult economy pursue quick remains structural willing
Mr. Koizumi remains willing to pursue structural reforms, so long as the economy permits. He's not going to abandon reforms. However, realistically it's also difficult to assume very quick progress.
bold cannot coalition euro expect grand labor looks market tax undertake weak
We cannot expect a grand coalition to undertake bold and speedy reforms, especially of the labor market and tax system. The euro looks weak now.
bold cannot euro expect labor looks market tax undertake weak
We cannot expect a 'grand coalition' to undertake bold and speedy reforms, especially of the labor market and tax system. The euro looks weak now.
along bank coming continuing dollar enthusiasm fed further hikes increases investors japan japanese likely overseas peaked push rate
Expectations of further Fed rate increases haven't peaked yet, while rate hikes by the Bank of Japan are a long way off. Along with Japanese investors continuing enthusiasm for overseas assets, that will likely push up the dollar in coming weeks.
dollar waiting
Everyone is waiting for an end to the tightening cycle, so that's why the dollar is vulnerable.
economic expect gloomy picture reasonably second weak
It's a very gloomy picture. We can reasonably expect a very weak economic picture for the first and second quarter.
buying election initial optimism round seems
Yen buying seems to be stalling after an initial round of optimism about the Sept. 11 election receded.
half likely next remain situation year
At least for the next half a year the situation is likely to remain tough.