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US Treasury report’s key contents - BBH

FXStreet (Barcelona) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman noted key content of the US Treasury.

Key Quotes:

"The US Treasury report did not seem to focus on the yen per se, but urged Japanese officials to be cautious about fiscal consolidation (sales tax increase), and discussed the need to boost growth. South Korea came under continued pressure, and the US Treasury called upon it to accept more currency appreciation."

"In Europe, Germany, and the Netherlands, external surpluses were cited. It was noted that the eurozone surplus exceeds China's as a percentage of world GDP."

"The German surplus was cited as evidence that more pro-growth policies can be taken”.

“The US Treasury recognized the recent introduction of minimum wage in Germany, and called for additional measures to boost domestic demand."

EUR/JPY risks weigh to the downside

EUR/JPY is trading at 135.78, down -0.11% on the day, having posted a daily high at 136.26 and low at 134.14.
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