If the dollar were close to 115 yen, I'm sure a bunch of guys would definitely try to trigger stop-loss orders (to push the dollar lower). But at the current level, no one will do so.
More Quotes from Mitsuru Sahara:
Market speculation about an end to US interest rate rises has risen after the minutes from the Federal Open Market Committee meeting from March.Mitsuru Sahara
The market is still focusing on interest rate differentials.
Mitsuru Sahara
Expectations are building up in the market that the BOJ may wait longer than previously thought before raising interest rates. That will make it easier for people to resume carry trade.
Mitsuru Sahara
There's speculation that once the New Year begins, the market may return to trades based on interest-rate differentials.
Mitsuru Sahara
Market players are almost certain that the Federal Reserve will keep raising interest rates and as long as the prospect of higher U.S. rates remains intact, dollar buying will continue.
Mitsuru Sahara
We will continue to see a yen downtrend and dollar uptrend due to the widening gap in interest rates between the two countries.
Mitsuru Sahara
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