April 26 (Bloomberg) -- The dollar traded within half a cent of a record low against the euro as signs of slowing growth prompted traders to increase bets the Federal Reserve will cut interest rates this year....
...Japanese investors last week bought overseas bonds at the fastest pace in five months, according to data the Ministry of Finance released today. Investors bought 653.4 billion yen ($5.5 billion) in foreign bonds on a net basis in the week ended April 21, the most since the week ended Nov. 11, the data showed.
``The forces are in place to push the yen higher,'' said Michael Thomas, head of economics and strategy at ICAP Australia Ltd. in Sydney. ``They'll say growth is sustainable. They'll have to acknowledge inflation is weak, but they'll be saying inflation will start rising again.''
Inflation Forecast
The Japanese currency may rise to 117.50 against the dollar and 161.56 per euro in one week, Thomas said.
I commented to a reader that JPY June seemed to be building a base above the 10 day moving average.
...Japanese investors last week bought overseas bonds at the fastest pace in five months, according to data the Ministry of Finance released today. Investors bought 653.4 billion yen ($5.5 billion) in foreign bonds on a net basis in the week ended April 21, the most since the week ended Nov. 11, the data showed.
``The forces are in place to push the yen higher,'' said Michael Thomas, head of economics and strategy at ICAP Australia Ltd. in Sydney. ``They'll say growth is sustainable. They'll have to acknowledge inflation is weak, but they'll be saying inflation will start rising again.''
Inflation Forecast
The Japanese currency may rise to 117.50 against the dollar and 161.56 per euro in one week, Thomas said.
I commented to a reader that JPY June seemed to be building a base above the 10 day moving average.
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