That’s why dollar/yen is totally supported, and people underestimate the fact that this is probably going to be a theme for quite a few months to come.

In broad terms there’s two camps fighting over whether we think the dollar’s going to benefit or lose ground,

People are taking a little bit of risk off.

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.

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...

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.

I think it’s discounted, unless they do something and do something decisive.

If you try to put a macro story with moves, it would be caution about how the BOJ is going to move and when they’re going to move.

Chinese banks may want to buy yen and see if they can get a good return on shares in Japan.

If you try to put a macro story with (Wednesday’s) moves, it would be caution about how the BOJ is going to move and when they’re going to move.

People are taking a little bit of risk off. It’s difficult to make a call over the next two to three days where the market is going to go.

We’ve had some good moves early week and we’re looking for another trigger for the next big-figure move in the dollar.

$1.25 is pretty neutral. The spread hasn’t narrowed enough to justify a move beyond there.

As long as U.S. rates are rising you’ve got this double-whammy effect of spare cash looking for yield and yield is there (in the U.S.),

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.

The market was caught a little short there and some intraday players were forced to trim positions.

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.

Japanese investors are going into Treasuries. The dollar is going to be very well supported.

There’s not a lot of activity around.

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.

Until the dollar breaks through some sort of bigger levels…I don’t think we’re going to get another leg up.

Japanese investors are buying the dollar to purchase overseas assets, such as Treasuries.

It’s also important to note that the point of the election was to strengthen Koizumi’s reform mandate, so we’ll be looking how he delivers on this front,