Negative consequences of the hurricane are appearing in economic indicators and getting hard to ignore. The dollar may slide should more figures indicate economic weakness.
More Quotes from Toru Umemoto:
The end of quantitative easing is not positive for the yen at all, and the market is likely to find out in coming weeks time after having already bought the yen.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
Markets have been pricing in Koizumi's victory in the elections. That's positive for the yen.
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
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
Unlike past national elections, it seems swing voters in urban areas are supporting the LDP this time. That's positive for the yen.
Toru Umemoto
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