Toru Umemoto
Toru Umemoto
bought coming easing likely market positive time weeks
The end of quantitative easing is not positive for the yen at all, and the market is likely to find out in coming weeks time after having already bought the yen.
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.
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.
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.
current level
The dollar/yen could consolidate at the current level for a while.
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.