Fundamentals will determine the level of dollar-yen, and the fundamentals still argue for a higher dollar-yen. |
I think at the moment what they are trying to do is limit yen strength, given the fact that Japanese corporations are still facing a lot of deflationary pressures. Japanese trade data showed another fall in exports, which is a byproduct of the yen strength we've seen over the past few months. |
I think that it looks like what the market is doing is starting to look to Thursday's ECI and GDP numbers and starting to maybe get a little bit nervous about it. |
It provided quite a strong figure for Q3. |