Recent rises in yields of Japanese government bonds, combined with this emerging uncertainty over prospects for US interest rates, are expected to weigh on the US currency against the yen in the near term.
More Quotes from Ryohei Muramatsu:
Unless the market can get a firm perception that the US Fed is ending its interest rate hike cycle, the ongoing weakness of the yen may not come to an end.Ryohei Muramatsu
The market is more inclined to the perception that US interest rates will rise further.
Ryohei Muramatsu
The dollar's gains today were capped around the recent peak level of 119.39 yen, because this level is also a key resistance level on charts.
Ryohei Muramatsu
Yields will have a bias to rise as concern about an inflation bulge is reignited. A rate increase in March is almost a done deal and there's a chance for another move in May.
Ryohei Muramatsu
As the European Central Bank is turning more hawkish on its rate outlook, capital inflows into euro-denominated assets are expected to grow stronger.
Ryohei Muramatsu
On the other hand, it is now believed that the Bank of Japan will hold interest rates, in effect, at zero for a prolonged period because of strong political pressure.
Ryohei Muramatsu
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