Erik Nelson sees the Bank of Japan delivering and sounding hawkish while the Fed does not hike, with FX markets under-pricing that relative shift. He also sees European growth surprises improving and foreign investors under-hedged on U.S. assets, so he prefers the euro and Japanese yen as alternatives to the dollar.
Erik Nelson sees the Bank of Japan delivering and sounding hawkish while the Fed does not hike, with FX markets under-pricing that relative shift. He also sees European growth surprises improving and foreign investors under-hedged on U.S. assets, so he prefers the euro and Japanese yen as alternatives to the dollar.