Today's BOJ meeting is a momentous event. The end of quantitative easing is near. The market doesn't necessarily believe it will happen today, but if it doesn't happen today it will be April.
More Quotes from John Kyriakopoulos:
The Australian dollar is being hurt by the rise in global bond yields, driven by expectations all three major central banks will be raising interest rates this year. This is hurting commodities.John Kyriakopoulos
U.S. economic reports serve to remind investors that U.S. economic growth remains solid, and as long as this continues, writing the U.S. dollar off could prove a costly strategy.
John Kyriakopoulos
The Fed is still going to 5 percent and therefore Australia's yield advantage will continue to narrow.
John Kyriakopoulos
The Reserve Bank may shift to a very mild tightening bias which won't be enough to support the Australian dollar while the Fed is pushing up rates.
John Kyriakopoulos
Around 75 cents is the sell zone, which is close to the 100-day moving average which provided a bridge too far over the past nine months.
John Kyriakopoulos
The outlook for the Fed policy is clearly data dependent. I cannot see much downward correction to the U.S. dollar over the near term being driven by the data.
John Kyriakopoulos
Readers Who Like This Quotation Also Like:
My one ambition is to play a hero.Sessue Hayakawa
Life is a foreign language; all men mispronounce it.
Christopher Morley
People endure what they endure and they deal with it. It may corrupt them. It may lead them into all sorts of compensatory excesses.
Dennis Potter