Tomoko Fujii
Tomoko Fujii
abandon assume difficult economy pursue quick remains structural willing
Mr. Koizumi remains willing to pursue structural reforms, so long as the economy permits. He's not going to abandon reforms. However, realistically it's also difficult to assume very quick progress.
economic expect gloomy picture reasonably second weak
It's a very gloomy picture. We can reasonably expect a very weak economic picture for the first and second quarter.
factor rate remain single
Short-term rate expectations remain the single most important factor for dollar/yen,
economic economy euro expanding faster figures good surely
Good economic figures will surely be euro supportive. The euro-zone economy is expanding faster than expected.
debt drastic gain general implement needs public reducing require sector
In general reducing the public debt will require drastic public sector reform. To implement drastic reforms, Koizumi needs to gain public support.
economic near outlook quiet term
In the near term the economic outlook is still quiet bleak.
half likely next remain situation year
At least for the next half a year the situation is likely to remain tough.
generally investors japanese returns seem selling sought
Japanese institutional investors seem to have sought returns by selling dollar-denominated assets. That kind of repatriation is generally yen positive.
reforms
He hasn't done any reforms yet, so they would like to see the results.
along bank coming continuing dollar enthusiasm fed further hikes increases investors japan japanese likely overseas peaked push rate
Expectations of further Fed rate increases haven't peaked yet, while rate hikes by the Bank of Japan are a long way off. Along with Japanese investors continuing enthusiasm for overseas assets, that will likely push up the dollar in coming weeks.
beginning concerned earlier market rate risks
Some market participants are beginning to be concerned about the risks of an earlier rate hike.
domestic economy exports figures increase later rate robust shows strong supporting surplus trade
The trade surplus figures showed strong exports and domestic demand. This shows the economy is robust enough to withstand a rate increase later this year, supporting the yen.
dollar waiting
Everyone is waiting for an end to the tightening cycle, so that's why the dollar is vulnerable.
bold cannot euro expect labor looks market tax undertake weak
We cannot expect a 'grand coalition' to undertake bold and speedy reforms, especially of the labor market and tax system. The euro looks weak now.