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.
More Quotes from Tomoko Fujii:
In general reducing the public debt will require drastic public sector reform. To implement drastic reforms, Koizumi needs to gain public support.Tomoko Fujii
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.
Tomoko Fujii
might need some more time.
Tomoko Fujii
He's likely to make more bullish comments on the economy and deflation. That will put upward pressure on short-term interest rates, which is yen positive.
Tomoko Fujii
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.
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Pressure on China to revalue against the dollar leads other Asian currencies, including the Japanese yen, to strengthen against the U.S. currency.
Tomoko Fujii
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