- Don’t see need to revise economic forecasts made in January
- Japan’s fiscal condition very severe
- See no big impact to JGB yields from Moody’s rating cut
- Need to act as soon as possible to improve Japan’s fiscal position
- Road to deflations’ end likely bumpy
USD/JPY has traded marginally easier during Asian trade, presently down at 82.60 from a North American close Tuesday around 82.75. Talk of stops now through 82.40 and 82.25.
