Callum Henderson
Callum Henderson
heightens next number policy positive raise row third
A third positive number in a row heightens expectations for the BOJ to raise policy next week. That will underpin the yen.
cheapest inevitably regain
The yen is the cheapest it has been for 20 years and will inevitably regain ground.
assumption cap clear comments implicit indeed japan rise tim time warning
The comments by Tim Adams were a bombshell. This is the first clear warning in a very long time by the U.S. that Japan shouldn't cap the rise in the yen. The implicit assumption is the yen will indeed strengthen.
chancellor clarity currency degree downside form government pressure until
Obviously, the pressure will be on the downside of the currency until we get some degree of clarity on who is going to be a Chancellor and what form of government we are going to have in Germany.
albeit continue expect fed taiwan
We expect the CBC to continue to tighten, albeit slowly, even after the Fed stops. We like the Taiwan story a lot.
dollar expect fed fully market percent pricing raise rates receive risk support
We expect the Fed to raise rates to 4.75 percent in March. The market isn't fully pricing this in, so it suggests a risk the dollar will receive support in the short-term.
highs previous runs saw stops taken yesterday
We saw stops go out yesterday after the highs of the previous two runs were taken out.