U.S. consumer confidence will push up the dollar by backing speculation the Fed will raise rates further. The dollar's uptrend will likely continue today.
More Quotes from Michiyoshi Kato:
Pressured by Japanese politicians and officials, the BOJ will be unable to end its easing of the money supply any time soon. That's pretty much yen negative.Michiyoshi Kato
There's sentiment building for a weaker yen. The BOJ is unlikely to raise rates soon, even after an end to its current policy.
Michiyoshi Kato
The housing markets had been the U.S. economy's Achilles heel. Faced with strong housing data yesterday, some dollar-bears have surrendered.
Michiyoshi Kato
Yen selling may not extend to today. Some investors sold a bit too much yen, so they may buy some back, which could benefit the Japanese currency.
Michiyoshi Kato
Violence will surely continue to weigh on the euro.
Michiyoshi Kato
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