As long as U.S. rates are rising you've got this double-whammy effect of spare cash looking for yield and yield is there (in the U.S.),
More Quotes from Luke Waddington:
We're hearing it may be 6 p.m. Tokyo before an announcement comes out, and that's making people think it's a story to react to tomorrow. The timing of it is important because we're hearing lots of rumors.Luke Waddington
Chinese banks may want to buy yen and see if they can get a good return on shares in Japan.
Luke Waddington
In broad terms there's two camps fighting over whether we think the dollar's going to benefit or lose ground,
Luke Waddington
People are taking a little bit of risk off. It's difficult to make a call over the next two to three days where the market is going to go.
Luke Waddington
There's been such a significant move that model funds are turning now and have to buy the yen. Any move higher in the dollar is going to be sold into.
Luke Waddington
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