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10 Sep 2013
Flash: JPY weakness on Abe - Nomura
FXstreet.com (Barcelona) - Yujiro Goto, FX strategist at Nomura sights Yen weakness ahead of Prime Minister Abe's decision next.
Key Quotes:
“Prime Minister Abe's decision next.month should sustain JPY weakness”.
“Prime Minister Abe is reported to have asked ministers to consider additional growth measures to offset any negative impact of the scheduled consumption tax hike”.
“While Prime Minister Abe has expressed a cautious view on the consumption tax hike, as it could prevent the economy exiting deflation, his suggestion today seems to suggest that he is now more confident about the planned tax hikes. Japanese Q2 GDP growth was revised up to +3.8% (saar) yesterday, with a strong revision to private capex, which reduced the downside risk to Japanese economic growth”.
“The tax debate now focuses on how to alleviate the negative impact of the tax hike”.
Key Quotes:
“Prime Minister Abe's decision next.month should sustain JPY weakness”.
“Prime Minister Abe is reported to have asked ministers to consider additional growth measures to offset any negative impact of the scheduled consumption tax hike”.
“While Prime Minister Abe has expressed a cautious view on the consumption tax hike, as it could prevent the economy exiting deflation, his suggestion today seems to suggest that he is now more confident about the planned tax hikes. Japanese Q2 GDP growth was revised up to +3.8% (saar) yesterday, with a strong revision to private capex, which reduced the downside risk to Japanese economic growth”.
“The tax debate now focuses on how to alleviate the negative impact of the tax hike”.