If the dollar were close to 115 yen, I'm sure a bunch of guys would definitely try to trigger stop-loss orders (to push the dollar lower). But at the current level, no one will do so.
Going into the New Year, I think players will buy back the dollar if U.S. economic indicators are good.
It is becoming more likely that the Nikkei will rise above 13,000 after the general election.
Market speculation about an end to US interest rate rises has risen after the minutes from the Federal Open Market Committee meeting from March.
Market players are almost certain that the Federal Reserve will keep raising interest rates and as long as the prospect of higher U.S. rates remains intact, dollar buying will continue.
We will continue to see a yen downtrend and dollar uptrend due to the widening gap in interest rates between the two countries.
Expectations are building up in the market that the BOJ may wait longer than previously thought before raising interest rates. That will make it easier for people to resume carry trade.
There's speculation that once the New Year begins, the market may return to trades based on interest-rate differentials.
The speculation on the chance of further rate hikes in March has been increasing to about 70 percent as the market wants to focus on the positive parts of US data.
A positive CPI will reinforce the market view that a US rate hike in May will happen.
A strong CPI figure could be the market's deciding factor for a rate rise in March.
Investors are waiting for the FOMC minutes to confirm whether their current view on rate hikes is correct.
The dollar is relatively firmer against other currencies on the market due to growing expectation of further rate hikes in the United States ... following the remarks by Poole.
The dollar had been oversold on worries that damage inflicted by Katrina would be extensive and very serious.
The market is still focusing on interest rate differentials.
The market returned to the trend of dollar-buying.