The market is saying what we're not going to get is a surprise in terms of rates -- we're not going to get some cuts because of storm-damage problems. |
The market was caught a little short there and some intraday players were forced to trim positions. |
The view that people do hold is that the kiwi will drop. But people are nervous about doing it against the dollar, so they go elsewhere. |
There's been such a significant move that model funds are turning now and have to buy the yen. Any move higher in the dollar is going to be sold into. |
There's not a lot of activity around. |
This is yen supportive. People are starting to get quite a defined time line on when the Bank of Japan will end its easing and are quite convinced its going to happening next week. |
This sort of second guessing (in the market) will continue until we actually see what the real impact of the situation is going to be on the U.S. |
Until the dollar breaks through some sort of bigger levels...I don't think we're going to get another leg up. |
We're hearing it may be 6 p.m. Tokyo before an announcement comes out, and that's making people think it's a story to react to tomorrow. The timing of it is important because we're hearing lots of rumors. |
We've had some good moves early week and we're looking for another trigger for the next big-figure move in the dollar. |