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JPY weakens over the fate of Sales tax hike - TradeTheNews

FXStreet (Barcelona) - The TradeTheNews Research Team comments on the Japanese Yen briefly weakening once again after another dose of speculation over the fate of the 2nd round of the sales tax.

Key Quotes

“USD/JPY jumped about 30pips above 115.80 on Jiji report citing a ruling LDP party official, stating PM Abe appears to have made a decision to call snap elections, informing his party base to be prepared for December polls. Japan cabinet has now been forced to deny such rumors twice in the scope of the past week. “

“Separately, BOJ's Amamiya said the central bank's easing is an open-ended policy position targeting 2% inflation, and that the central bank is not concerned with the risk of hyper-inflation.”

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