Masashi Murata - Brown Brothers Harriman

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Last quote by Masashi Murata

It was hard to see the euro and yields continuing to move in different directions, which was only possible as some speculators appeared to have gone to great lengths to push the euro higher. But these euro long positions are beginning to become untenable as the dollar is stronger and U.S. yields are higher after the Fed's policy meeting this month.feedback
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Sep 26 2017
Masashi Murata has been quoted 44 times. The one recent article where Masashi Murata has been quoted is Dollar edges up as investors await Fed's policy signals. Most recently, Masashi Murata was quoted as having said, “The market doesn't seem to have any strong risk-off sentiment, even after Trump's comments.”.
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Masashi Murata quotes

May 29 2017

The market is waiting for the U.S. employment data on Friday.feedback

May 23 2017 - Manchester bombing 2017

The yen may have been bought in reaction to the blast, but the incident is unlikely to have lasting impact on the broader scheme of things. Even prior to the incident, market sentiment has not been particularly 'risk on' for a while, with relatively low U.S. yields limiting the dollar's attraction.feedback

Apr 21 2017 - Front National

I think the consensus is that France in the end will choose some one other than Le Pen, somebody more moderate. But you can't say that for sure, after what happened last year.feedback

Apr 12 2017

Direct demand for the yen driven by flight-to-safety, rather than bids generated by lower Treasury yields, characterises the latest move. As recent data suggest, the United States is not in bad shape fundamentally and this should be dollar-supportive. But right now the tide favours the yen and participants do not want to miss the next wave of yen buying.feedback

Apr 07 2017 - Syria conflict

I think the market has no strong expectations from the U.S.-China summit.feedback

Mar 14 2017 - G20

The market faces a series of event-related risks. It's hard to predict whether that would be the Dutch elections, the Fed policy decision, (U.S. President Donald Trump's) budget proposal or the G20 meeting, but the dollar faces significant downside risks.feedback

Mar 06 2017

There are worries that Trump may not be able to push through his spending plans, given delay in appointments of key staff. It now looks possible that the next year's budget hardly reflects his agenda.feedback

Feb 22 2017

I think Mnuchin's comments are neutral for the market overall. Their impact appears to have faded as he had already expressed such views before. We have to remember Mnuchin was referring to the dollar's long-term prospects, and that he did suggest before that too strong of a dollar could have negative effects in the short-term.feedback

Feb 14 2017 - Federal Reserve

Yellen does not need to say anything in detail. I think she'll be very cautious, so currencies might not move so much. She might suggest some possibility of the Fed hiking rates in March, but I think that risk is very small.feedback

Feb 03 2017 - Japan

The yen might continue to weaken against the dollar after today's action. Some participants may have concerns about the BOJ's previous actions, or lack of action, when JGB yields have risen, so it's a good signal. But my feeling is that BOJ also doesn't want to keep expanding their balance sheet.feedback

Feb 01 2017

Trump is providing an opportunity for bargain hunters. The dollar ends up being sold on his statements, but ultimately it finds downside support as Treasury yields do not fall that much.feedback

Jan 25 2017 - Protectionism

It is highly doubtful whether Trump would go ahead with a large-scale immigration ban to an extent that would affect the markets in a long term. Trump would keep his strong rhetoric from his candidate days to assure his followers, but he has not detailed the actual action plans. His policy won't be a straight-forward protectionism, considering his positive comments on the strong Mexican economy.feedback

Jan 17 2017 - Federal Reserve

Markets cannot be too optimistic about the UK parliament having the final vote. Brexit, hard or not, will weigh on the UK economy.feedback

Jan 17 2017 - Federal Reserve

The pound is still on a downward trend according to the technical analysis, compared to the highs marked in September and December last year.feedback

Jan 11 2017 - Japan

The fall is very natural after what Trump has been saying about the Mexican relationship, but I also think that maybe the selling is almost over as he is saying nothing new.feedback

Dec 19 2016

Given that the yen was sold the most since the U.S. elections, it was inevitable to see some short-covering in the yen.feedback

Dec 11 2016

It's not so much about what the Fed does, but more about what they say.feedback

Dec 11 2016 - Christmas

Part of the positioning is also seasonal, as some players try to accumulate long dollar positions ahead of the Christmas holiday.feedback

Dec 06 2016 - Italian elections

I think it's reasonable to stay with the view that it will eventually head lower, to levels below $1.05.feedback

Nov 04 2016

Participants are not responding very much to reports that suggest Clinton is ahead in some battleground states. Emotions has the edge over logic right now.feedback

Oct 14 2016 - Federal Reserve

It's kind of like a tug-of-war, so the current level around 104 might be the highest level today, and some market participants might try to sell the dollar against the yen ahead of the retail sales.feedback

Oct 05 2016

It remains to be seen if the report can be substantiated. But the mood in the market appears to have shifted with the mention of ECB tapering as it would spell an end to monetary policy divergence.feedback

Aug 26 2016 - Federal Reserve

The market may react to one word, or one phrase, but I don't think her speech will bring a new dollar/yen trend. If Yellen shows less confidence about the U.S. economy, maybe people would like to buy the yen more, but I also think there are longterm investors who step in to buy dollars whenever it falls below 100 yen, so I think it will stay around current levels for a while.feedback

Jul 08 2016

I think many investors want to continue to focus on the Brexit risks, so even if we get some good U.S. employment data, it might not be so helpful to over come weak sentiment. My basic scenario is that dollar/yen will trade between 100 and 105 through the end of September.feedback

May 23 2016 - Japan

The April trade surplus was due in large part to weak imports. Still, the data was enough to trigger yen buying.feedback

Apr 28 2016

I think the odds of (monetary easing) were half and half, but the most surprising point is that the markets seemed to have been surprised.feedback

Mar 02 2016

Not so many people are confident about the U.S. economy and global markets, so the dollar will be rangebound for now.feedback

Jan 04 2016

Instability in the Middle East might lead to the yen being bought against the dollar, but that might be temporary as higher oil prices would support the economy of the United States, a major oil exporter, in the longer term.feedback

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