14 Quotes by Tom Benfer

If the yen continues to strengthen, then it's not a good thing for the Japanese because their exports aren't going to be competitive into the U.S.. I think as you get to 105 and pull below, it's going to hurt the Japanese stock market. So, too strong of a yen is not good.

I think that these countries do not want to miss out on the export opportunities in the United States and that's one of the primary reasons behind this.

I think there is a lack of a tolerance for the yen to appreciate. I had originally thought that the yen would be trading at a range of 115 to 125, but with the BOJ coming in at 118 for two days in a row I think they are really drawing their line in the sand.

People are getting ready for the end of the tightening cycle and they are beginning to feel like the dollar?s rally is nearly over.

We'll have to watch the data closely now between Aug. 24 and Oct. 4 to see how strong the numbers are. So it's going to be key now on how strong the economy looks going into October whether or not they would move again by another quarter point in October. So I think that's the question mark: Do they go 50 (basis points) or do they go 75 basis points for this year?

It's a lose-lose situation for the yen. Traders feel they shouldn't raise rates because the economy is still too weak at this point.

This is just positioning within ranges but I still think the dollar is going higher.

Once again, it shows a lack of follow through after thoughts of intervention.

The core number (which excludes the volatile food and energy sectors) is expected to (gain) 0.2 percent, which would be good and I think that would give the market a further sign of relief and could give the bond market a boost.