2 Dec 2014
Abe government wary of further weakening in Yen – DBS
FXStreet (Barcelona) - The DBS Research Team note that the Abe government is wary of any further depreciation in Yen as it weighs heavily on the households and smaller firms.
Key Quotes
“In Japan, Chief Cabinet Secretary Yoshihide Suga joined Finance Minister Taro Aso in monitoring the Japanese yen. The Abe government is wary that further yen depreciation, which is already hurting households and small firms, may hurt its performance at the snap election on 14 Dec. Ever since PM Shinzo Abe dissolved parliament, these comments have come out whenever USD/JPY threatened to break above 119. According to a survey last month, most Japanese do not like USD/JPY moving above its 115-120 range.”
Key Quotes
“In Japan, Chief Cabinet Secretary Yoshihide Suga joined Finance Minister Taro Aso in monitoring the Japanese yen. The Abe government is wary that further yen depreciation, which is already hurting households and small firms, may hurt its performance at the snap election on 14 Dec. Ever since PM Shinzo Abe dissolved parliament, these comments have come out whenever USD/JPY threatened to break above 119. According to a survey last month, most Japanese do not like USD/JPY moving above its 115-120 range.”