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.
More Quotes from Yasuhisa Ishida:
Investors normally start making fund allocation from around the Easter Holiday.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
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
As the market has largely anticipated an end to the current monetary policy soon, buying of the yen will not last.
Yasuhisa Ishida
Yet, with the underlying sentiment toward the dollar being shaky at the moment, the trade report could shift market attention to deficit problems in the US and spark some dollar selling.
Yasuhisa Ishida
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