Yasuhisa Ishida
Yasuhisa Ishida
attention deficit dollar market problems report sentiment shaky shift spark toward trade underlying
Yet, with the underlying sentiment toward the dollar being shaky at the moment, the trade report could shift market attention to deficit problems in the US and spark some dollar selling.
buying current largely market monetary policy
As the market has largely anticipated an end to the current monetary policy soon, buying of the yen will not last.
accumulate again begun belief foreign interest japan players positions rates rising short start
Foreign players have begun to accumulate short positions on the yen again in the belief that interest rates in Japan will not start rising in the foreseeable future.
advance almost april either fully further likelihood march market policy room shift
I think the market has almost fully priced in now the likelihood of a shift in policy either in March or April and so there is almost no room for the yen to advance any further on this lead.
concerns dollar interest likely possible pressured rate rises trade
As long as concerns over possible interest rate rises are out there, the dollar is likely to be pressured by the unwinding of yen-carry trade positions.
market prefer provide ruling wait
As market participants are not ruling out the possibility that the US GDP ...may provide dollar-supportive evidence, they prefer to wait for the outcome.
backdrop bought provided reports turned
The US reports turned out disappointing. This provided the backdrop for the yen being bought more than expected.
forecast healthy report shows
I think that the report as forecast shows a healthy US economy.
buy finally fiscal foreign funds investors japanese mutual sidelines since start stayed time
Japanese institutional investors as well as mutual funds finally started to buy foreign currency-denominated assets, after having stayed on the sidelines for some time since the start of the new fiscal year.
ahead despite economic euro events german including key mode next release strong supportive weighed
There is a strong wait-and-see mode ahead of key economic events in the US, including tomorrow's GDP release and next week's FOMC meeting. This weighed on the euro despite a supportive strong German IFO survey.
easter fund investors normally start
Investors normally start making fund allocation from around the Easter Holiday.
confirmed countries dollar economic interest japan major market rate shrink
The dollar was buoyed as the market confirmed that interest rate differentials between Japan and other major economic countries would not shrink for a while.
continue expected fed figures finds further hikes market rate signals stronger trend unless
The dollar's bearish (weaker) trend is expected to continue unless the GDP figures are significantly stronger (than exported) or the market finds strong signals for further rate hikes in the Fed statement.
fed focus hike interest largely market raise rate rates statement whether
The market has largely factored in another US rate hike this month. The focus is to find out in the accompanying statement whether the Fed will raise interest rates further.