As the market has largely anticipated an end to the current monetary policy soon, buying of the yen will not last.
More Quotes from Yasuhisa Ishida:
Foreign players have begun to accumulate short positions on the yen again in the belief that interest rates in Japan will not start rising in the foreseeable future.Yasuhisa Ishida
The US reports turned out disappointing. This provided the backdrop for the yen being bought more than expected.
Yasuhisa Ishida
There is a strong wait-and-see mode ahead of key economic events in the US, including tomorrow's GDP release and next week's FOMC meeting. This weighed on the euro despite a supportive strong German IFO survey.
Yasuhisa Ishida
As long as concerns over possible interest rate rises are out there, the dollar is likely to be pressured by the unwinding of yen-carry trade positions.
Yasuhisa Ishida
The market has largely factored in another US rate hike this month. The focus is to find out in the accompanying statement whether the Fed will raise interest rates further.
Yasuhisa Ishida
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