The sharp rally in the yen last week may not last. There is chatter about an impending policy tightening by the BOJ, but this is still around six months away at least.
More Quotes from Greg Gibbs:
The Fed is probably going to hold to see how the economy plays out. There's even some concern the U.S. economy had already started to slow down before the hurricane. If that's the case, it's quite bearish for the dollar.Greg Gibbs
Interest rate expectations will continue to support the Australian dollar.
Greg Gibbs
Much of this liquidity appears to be coming from China and increasingly Japan where investment trust growth is supplying significant volumes to foreign bonds with little regard to the rising global imbalances that policy makers frequently flag as a risk to the global economy.
Greg Gibbs
The market has been trading on the hurricane news.
Greg Gibbs
Rate speculation this week has built up a head of steam. This will support the Australian dollar.
Greg Gibbs
The Australian dollar has moved up against all other currencies quite sharply. The market has been wrong-footed by the Australian dollar, as has happened on several occasions this year. You get a few strong numbers in Australia and the market has to turn around again.
Greg Gibbs
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