Market

To buy dollars to suppress factors【Record・column]

*09:00JST to buy dollars to suppress factors【Record・column] US-China trade war armistice,Middle East tensions ease and market-shaking as the risk has receded some. That sense of security from the yen sell major currencies pushed up, and the dollar・yen rise in the pace is still sluggish. This destination,the next milestone to 115 yen, aiming to expand etc.

3 look for 1 on 14 days of the Tokyo market, the dollar・yen last year 5 since September,8 months into the psychological milestone of 110 yen to recover there was a scene where. The US-China bilateral trade agreement that signed before,Chinese Renminbi devaluation not to implement that and exchange data related to the publication of the consent, as America is China’s”為替操作 country”certified release of the sun. It both walked in the United States, the yen sell-dominant expansion.

Milestone point, sales are strong and even though at this time the dollar・yen is around and you and Mark riding in…… Therefore, your short-term muscle for the time being, and 110 yen to settle, and were talking about it. And, then the downward pressure is stronger, the dollar is 110 yen across everyone, even those who do not have a…… 109 yen is a bargain in the resilient portions 110 yen to the profit of the seller rises to the blocking state.

After the turn of the year in the Iranian elite unit commander of the killing for retaliation, as the US military and Iraqi troops shared that the Iraqi Air Force facilities in more than ten missiles to fire. At that time, Middle East tensions, accompanied by geopolitical risks was conscious of the yen buying in the dollar to 107 yen in the mid-and sold it for 1 Week at 3 yen’s rise is certainly the pace is rapid as well. On the other hand, the big risk is far of from the short run, the next milestone to 115 yen also not unnatural.

Currently, the dollar・yen last year and 5 in late with 110 yen 30 銭台 and 110 yen 60 銭台 is the upper limit memory and being. At the same time, the material out of us by selling dollars also advanced. In fact, the American indicators of the Consumer Price Index and retail sales are resilient and Philadelphia Fed Manufacturing Survey is strong on content, but the rise of the dollar is severely limited. The US 10-year bond yield is the juncture of 2%below the lowest level for the dollar is shrinking.

By the way,”為替操作 country”conditions do not fully meet China’s top government authorized by China is unfair to devalue the Renminbi by America’s trade deficit is expanding and the idea for it. U.S.-China official trade agreement in the policy toward China is tentatively resolved, but Japan and Germany also 為替操作 of the monitored countries. The Federal Reserve [FED]interest rate cuts to pause, and Trump administration dollar for the induction of foreign exchange intervention be considered.

11 months of the presidential race for the American Democratic Party is self-defeating aspects of, and at the moment is the re-election of the possibilities are rich. However, Trump is to ensure victory for common sense out of the means I use—such fear is to buy dollars to suppress and there is a view.

[吉池 Wei]

* They are also author’s personal view is,our view does not represent. 《SK》


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