With the Fed stopping, and policy elsewhere in Europe and Japan going in the opposite direction, it should be relatively positive for the euro and yen.
More Quotes from Harvinder Kalirai:
If the market begins to expect a more imminent end to the Fed's tightening cycle that would certainly remove the interest rate support for the dollar,Harvinder Kalirai
If manufacturing is recovering from this drag on growth, which is already strong, it is probably going to raise some concerns at the Fed.
Harvinder Kalirai
We're seeing a benign neglect in terms of the weakness of the Japanese yen. There's little reason for the Japanese to be worried because it seems the lower the yen gets the bigger the support it gives to exporters.
Harvinder Kalirai
We're starting to see positive signs that the Japanese business cycle may be moving around. The dollar-yen should trade lower in coming months.
Harvinder Kalirai
The trend is still toward wider deficits, so this is a concern for the U.S. dollar. I continue to forecast it lower.
Harvinder Kalirai
This is one weak number in the context of an extremely strong economy. One data point doesn't make a trend,
Harvinder Kalirai
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