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10 Sep 2013
Flash: USD/JPY weaker as global risk sentiment improves - BTMU
FXstreet.com (Barcelona) - Lee Hardman, FX analyst at the Bank of Tokyo Mitsubishi UFJ notes that the yen is continuing to trade on a weaker footing as global investor risk sentiment improves and yield spreads between Japan and overseas widen.
Key Quotes
“Japanese government bond yields have trended lower recently in contrast to rising yields globally, which many BoJ members noted in the minutes from their August meeting was driven by BOJ purchases.”
“To ensure the stability of interest rates many members noted the importance that the government steadily promote measures aimed at achieving fiscal consolidation.”
“NHK has reported today that PM Abe will likely order consideration of additional growth measures ahead of the sales tax decision including tax breaks for capex and a supplementary budget.”
Key Quotes
“Japanese government bond yields have trended lower recently in contrast to rising yields globally, which many BoJ members noted in the minutes from their August meeting was driven by BOJ purchases.”
“To ensure the stability of interest rates many members noted the importance that the government steadily promote measures aimed at achieving fiscal consolidation.”
“NHK has reported today that PM Abe will likely order consideration of additional growth measures ahead of the sales tax decision including tax breaks for capex and a supplementary budget.”