People are reassessing the U.S. economic outlook because they had thought the recovery was jobless. People are beginning to price in the chance of a rate hike by August.
More Quotes from Niels Christensen:
We have had disappointing data in the United States this week and in the euro zone we have had comforting news, ... If we get a weak GDP number no one would want to hold onto long dollar positions next week.Niels Christensen
In the U.S. yesterday, we had good data.
Niels Christensen
The market will be watching the consumer prices report, as the minutes have made it clear the Fed is watching inflation. The economic data has been strong and supportive for the dollar.
Niels Christensen
People are saying the report suggests that rates won't rise rapidly, and that's not positive for the yen.
Niels Christensen
It is more a squaring of positions than suddenly people seeing anything positive about the dollar, ... Intervention has a limited and short-lived impact. It has not started an uptrend in dollaryen.
Niels Christensen
Higher interest rates make it much more comfortable for Japanese investors to be holding dollars. The chances of rate increases in the U.S. continue to rise while in Japan the prospects are much less certain.
Niels Christensen
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