While the US Fed appears to have shortened its commitment to rate hikes by deleting the word 'measured', the US monetary authority still implies there are good chances of more rate hikes beyond the March meeting.
More Quotes from Kazuhiro Nishina:
Market players have been refraining from selling the yen before the release of the CPI data. But now, they know that the BOJ is unlikely to change their current monetary policy for a while and the United States continues to have higher interest rates than Japan.Kazuhiro Nishina
Strong US economic data will put a brake on the dollar's downward trend, which was triggered by the Fed minutes. The data could re-ignite expectations the Fed will raise interest rates at least twice this year.
Kazuhiro Nishina
And if the Bank of Japan does not end its super-loose monetary policy at this week's policy meeting, as expected, it may add more upward momentum to the dollar.
Kazuhiro Nishina
It is beginning to shift its attention back to the strength of US economic fundamentals.
Kazuhiro Nishina
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