USD/JPY is very marginally firmer on the day, presently at 89.90 from an early 89.75. Talk of sell orders, including Japanese exporters, up at 89.90/00, with buy stops said to be gathering up at 90.10.
Japanese Prime Minister Yukio Hatoyama said earlier today that he does not think the Japanese economy has turned around despite a fall in Japan’s jobless rate in August. He worries that unemployment will worsen into year end.
The official also said he couldn’t say how much wasteful spending his government has located in the extra budget for the year to March compiled by his predecessor Taro Aso, adding that more efforts to slash wasteful spending are needed.