Elias Haddad, a senior currency strategist at Commonwealth Bank of Australia, from in an interview with Bloomberg Television:
Risk of more aggressive easing from the Bank of Japan is abating
- Inflation dynamic in Japan has improved
Yen is driven by fundamentals rather than politics from the negative trade spat mostly between the U.S. and China
- If trade tensions escalate, "the yen will be the ultimate beneficiary because of it's very high current account surplus, but also of its high net foreign asset position"
- Trade tensions are not worsening, which is positive for the global growth outlook and puts pressure on the USD ... will be "trending lower the rest of this year"
