Markets have been pricing in Koizumi's victory in the elections. That's positive for the yen.
More Quotes from Toru Umemoto:
The dollar has reversed its course because concerns over an imminent end to the rate hikes have started to diminish. It is possible that the dollar will regain its strength to the level of late last year.Toru Umemoto
We're still in an environment where the Fed is likely to raise interest rates and the Bank of Japan won't for six months at the earliest. The interest-rate differential is likely to widen and that will be bad for the yen.
Toru Umemoto
Politicians' remarks opposing a policy shift have reduced expectations of an early end to the deflation-fighting policy and raised concern over the independence of the central bank. It also harms the government's credibility It's yen negative.
Toru Umemoto
Some investors are worrying about the slowdown in the housing market, a key driver of the U.S. economy. The abrupt slowdown in the housing market could lead to a loss of consumer confidence and a decline in assets, which makes investors cautious about buying the dollar.
Toru Umemoto
The market thought it could be positive for the yen on expectations that a rise in rates could soon follow.
Toru Umemoto
With the US trade deficit expanding and the American auto sector in pretty bad shape, I don't think Japan would want to run the risk of upsetting Washington these days.
Toru Umemoto
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