Flash: Still a Yen bear - Societe Generale

FXstreet.com (Barcelona) - According to Kit Juckes, Head of FX at Societe Generale, the Yen has recovered its bit tone somehow benefited by talk that japan will implement a consumption tax hike in order to offset its fiscal easing elsewhere.

Juckes adds: "With CPI correcting faster than expected, I don’t think the consumption tax hike is a good idea, but I’m not the PM of Japan or anywhere else and the overall fiscal effects will not result in the recovery being de-railed. I’m still a yen bear."