Expectations of further increases in U.S. interest rates are partly encouraging investors to take money out from Asian stocks. Fund outflows have been weighing on regional currencies.
More Quotes from Osamu Takashima:
The market has already priced in another interest rate hike in March so the dollar's scope for further gains on rate hike expectations is limited.Osamu Takashima
Should Fukui go further than his previous comments on a policy shift, that will likely be a yen-buying factor.
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Money should flow into Japanese government bonds, including from foreign investors. It wouldn't be surprising for the recent rise in yen interest rates, which had been ignored by the market until now, to garner attention.
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An increase in oil imports means more demand out of Japan for the dollar to buy them.
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The dollar-yen will trade in a range of 117-119 yen if the GDP data is in line with the market forecast.
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