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.
More Quotes from Ryohei Muramatsu:
We are seeing dark clouds on the horizon because of slowing housing markets. The inverted yield curve could be a sign of a slowdown in the economy. Treasuries yields are unlikely to rise.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
There has been quite strong resistance around 118.20 yen and as the dollar failed to clear that line, it faced selling pressure.
Ryohei Muramatsu
The yen and Asian currencies will appreciate. China week has finally begun. It will be a major focus.
Ryohei Muramatsu
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.
Ryohei Muramatsu
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