This morning's announcement by the Bank of Japan to end quantitative easing is being viewed as an indication that the Japanese economy is returning to health, but appears insufficient to prompt any consistent yen buying as of yet.
More Quotes from Michael Woolfolk:
We see that elevated oil prices and a continued Asian central bank intervention ensures that foreign demand for U. S. treasuries remains strong during January.Michael Woolfolk
The door will be left open for future rate hikes but the Fed will be increasingly data-dependent. That's positive for the U.S. dollar.
Michael Woolfolk
This report is nothing short of remarkable. The formula for a strong dollar is strong growth, tight monetary policy and loose fiscal policy. The U.S. happens to have all three. Private investors are comfortable investing in a country like the U.S.
Michael Woolfolk
The dollar will remain supported for the time being so long as central banks overseas continue to intervene to keep their currencies weak against the U.S. dollar.
Michael Woolfolk
The dollar rally after the non-farm payrolls report underscores the continued importance of labor market tightness with respect to interest rate expectations.
Michael Woolfolk
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