If Koizumi wins the majority of the parliamentary seats, then he'll be able to move toward more reforms. That will benefit the yen. |
It means stronger growth. That will give a little bit of a bid for the dollar. |
The fact is that the hurricane is not going to be as devastating as initially thought. The downgrading is being used as an excuse to buy dollars. |
The yield story favors the dollar. The BOJ made as minimal a change as they possibly could; the yen is still a very low-yielding currency and there's competition for yield. |
While the comments from Fed officials suggest they are close to finishing, the Fed may still have a few bullets left in its gun. Traders aren't willing yet to dump dollars. |
You may have taken the yen as far as you can, at least based on a short-term shift in policy. |