Marc Chandler

"markets want to believe it."

"The level of mistrust is so great that I think it's naive to assume it's going to be very smooth."

"The rate hike probably will not do much for dollar/yen directly since it's already discounted."

"The conditions for material intervention to support the yen by Japanese officials do not appear present."

"The market still seems generally optimistic, despite some of the ceasefire fraying."