Japanese institutional investors as well as mutual funds finally started to buy foreign currency-denominated assets, after having stayed on the sidelines for some time since the start of the new fiscal year.
More Quotes from Yasuhisa Ishida:
Investors normally start making fund allocation from around the Easter Holiday.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
The dollar was buoyed as the market confirmed that interest rate differentials between Japan and other major economic countries would not shrink for a while.
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
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 is largely of the view that the Fed will raise interest rates next month after the statement from the January meeting showing flexibility in raising rates while tracking economic indicators.
Yasuhisa Ishida
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