Comments from Japanese PM Abe on Reuters:
- It’s true the April sales tax hike led to 7.1 pct contraction in April-June GDP
- Must scrutinise impact of bad summer weather, rising fuel costs on economy, among other factors, in deciding whether to proceed with second sales tax hike
More:
- It is critical that Japan support smaller companies coping with weak yen (via Bloomberg)
- Wants large companies benefiting from weak yen to pass on benefits to smaller companies
- Says large exporters see big profit gains from weak yen
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If you’re somewhere without access to a price feed, USD/JPY has slowed its advance somewhat but still near session highs:
Tokyo heading into lunch time – price guide:
