The market has been entrenched in range-trade for such a long time that people cannot see a reason to buy dollars at the higher end of the range or sell them at the lower end.
More Quotes from Fumihiko Kawano:
Unless a big surprise comes out from the trade report, it may not cause much turbulence.Fumihiko Kawano
I think the yen will continue to fall for the time being. But later next year, things will change ahead of the U. S. mid-term election.
Fumihiko Kawano
This isn't the first time we've heard about the possibility of an end to the policy in March ... but the risks of that happening have increased a bit.
Fumihiko Kawano
What's going to change after the BOJ ends the quantitative policy Unless Japan's bank deposits start to pay interest rates of like 1.5 percent, Japanese investors will keep buying foreign currencies.
Fumihiko Kawano
The market is dithering, because on the one hand we have the interest-rate gap, but on the other we have still large U.S. government debt.
Fumihiko Kawano
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