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Japan’s Ozawa: FX intervention just by Japan may not have much effect, but should be prepared to act

  • Must stop rapid rises in yen
  • There are also other steps than yen-selling intervention to stem yen rise
  • Yen rises over long term not bad
  • Fine to debate tax reform, including sales tax
  • To keep promise not to raise sales tax before next general election
By Gerry Davies  || September 2, 2010 at 05:40 GMT
Category: All, Economy, Europe, Mkt News, Politics/Policy, Regions || Tags: , || 4 comments || Add comment
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Japan PM Kan: Recent yen moves driven by dollar weakness

Ummm?

By Gerry Davies  || September 2, 2010 at 05:34 GMT
Category: All, Europe, Mkt News, Politics/Policy, Regions || Tags: , || 11 comments || Add comment
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Nikkei opens +1.6%

USD/JPY and USD/CHF are both slightly higher in very early Tokyo trade.

By Sean Lee  || September 2, 2010 at 00:05 GMT
Category: All, Asia || Tags: , || 0 comments || Add comment
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Kansas Fed’s Hoenig: Modest US recovery continuing…

headline comment via Reuters from Japan’s Asahi News

By David Horton  || August 31, 2010 at 23:17 GMT
Category: All, Asia || Tags: || 0 comments || Add comment
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Ex BOJ Mizuno: Counterproductive if Japan doesn’t act on its words in signalling fx intervention

  • Japan intervention may gain understanding if yen rises on factors it can’t control
  • Increasing outright govt bond buying not an option for the BOJ

Former BOJ board member Mizuno says Japanese currency intervention may gain some understanding in the global community if it is aimed at curbing yen gains which are out of Tokyo’s control.

Mizuno says Japan needs to get serious about arresting the yen’s strength and should act on its warnings of intervention.

By Gerry Davies  || August 31, 2010 at 08:19 GMT
Category: All, Central Banks, Economy, Europe, Mkt News, Politics/Policy, Regions || Tags: , , || 6 comments || Add comment
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Japan MOF’s Ikeda: BOJ should not rule out interest rate cut to zero pct

By Gerry Davies  || August 31, 2010 at 07:32 GMT
Category: All, Central Banks, Economy, Europe, Mkt News, Politics/Policy, Regions || Tags: , , || 6 comments || Add comment
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Japan FinMin Noda on newswires again

The usual stuff about taking decisive action when necessary.

Based on the amount of talking that there has been over the last few weeks, one would have to think that the time for action has long since arrived.

By Sean Lee  || August 31, 2010 at 02:25 GMT
Category: All, Asia || Tags: , || 19 comments || Add comment
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Japan July retail sales +3.9% YoY

Retail sales have now risen for 7 months in succession.

USD/JPY still refuses to move in Asia with the market bearish but strong bids belwo 84.50 holding it up. The 16 pip range so far this morning is testament to the lack of momentum.

By Sean Lee  || August 31, 2010 at 01:10 GMT
Category: All, Asia || Tags: , || 0 comments || Add comment
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Nikkei opens -1.65%

By Sean Lee  || August 31, 2010 at 00:00 GMT
Category: All, Asia || Tags: || 5 comments || Add comment
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Japan July industrial output +0.3% MoM

This is better than the -0.2% forecasts. USD/JPY is trading quietly at 84.60.

By Sean Lee  || August 30, 2010 at 23:58 GMT
Category: All, Asia, Economy || Tags: , || 0 comments || Add comment
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