Yield spreads are not moving in favor of the dollar. It's a good selling opportunity.
More Quotes from Kamal Sharma:
The whole market is still very concerned about a high U.S. trade deficit.Kamal Sharma
The trade surplus didn't narrow as much as people had been expecting so that's going to help the yen. The data coming out of Japan is looking pretty robust. So that's going to help the yen.
Kamal Sharma
The US dollar may see some positional adjustment on the uncertainty of the contents of the FOMC (Federal Open Market Committee) statement after the decision ... but 25 basis points is a done deal.
Kamal Sharma
We don't think they will intervene -- there are various policy responses possible and there could be interest rate cuts. All our short-term indicators show that eurodollar is overbought,
Kamal Sharma
We are looking for a rise of 0.4 percent in the core index, in line with the consensus, and that could give the yen a lift.
Kamal Sharma
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