Toru Umemoto
Toru Umemoto
appearing consequences dollar economic figures hard hurricane indicate negative slide
Negative consequences of the hurricane are appearing in economic indicators and getting hard to ignore. The dollar may slide should more figures indicate economic weakness.
central concern early harms independence policy raised reduced remarks shift
Politicians' remarks opposing a policy shift have reduced expectations of an early end to the deflation-fighting policy and raised concern over the independence of the central bank. It also harms the government's credibility; It's yen negative.
gap negative
The gap is widening. This is negative for the yen.
comments expected fed given increases intention pace rates suggest weigh
Fukui's comments have become dovish on rates and suggest he has no intention to tighten immediately. The pace of U.S. rate increases is expected to be much faster, given the comments from Fed officials. This will weigh on the yen.
bad bank environment fed interest japan likely months raise rates six
We're still in an environment where the Fed is likely to raise interest rates and the Bank of Japan won't for six months at the earliest. The interest-rate differential is likely to widen and that will be bad for the yen.