Besides a continuous unwinding of short-yen positions, which capped the dollar's rise, last week's weak (U.S.) economic figures that led to a fall in U.S. long-term interest rates also weighed down on the currency. But basically, the market is thin due to Christmas holiday in major countries.
More Quotes from Kikuko Takeda:
The domestic market view is that Japan's monetary policy will be unchanged at this meeting and there won't be many signals in governor Fukui's speech for foreign investors trying to find some clues.Kikuko Takeda
The market would like to see whether the Fed will raise interest rates more than two more times.
Kikuko Takeda
I don't think weather issues like hurricanes can breach the trading range.
Kikuko Takeda
The Japanese yen will remain the weakest currency on the interest rate differentials. Pressure against the yen will be spreading.
Kikuko Takeda
The widening trade deficit is negative for the dollar. We see no way for the U.S. trade gap to narrow.
Kikuko Takeda
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