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.
More Quotes from 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
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
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.
Toru Umemoto
Markets have been pricing in Koizumi's victory in the elections. That's positive for the yen.
Toru Umemoto
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