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NZD/JPY a mixed bag - BNZ

FXStreet (Guatemala) - Raiko Shareef, Currency Strategist at BNZ notes how the JPY remains front-of-mind for global investors, after the BoJ electrified markets by announce a surprise step-up in the pace of asset purchases.

Key Quotes:

“This was complemented by confirmation that Japan’s largest pension fund would re-allocate in favour of equities and foreign assets, creating a possible $200b outflow of assets from Japan”.

“Rumours that PM Abe might delay the next sales tax hike has kept the pressure on JPY, as that would worsen an already ugly fiscal picture”.

“While at risk of pushing higher in the near-term, we pick NZD/JPY to settle back below 90.0 by year-end, before heading to 86 in 2015”.

Session Recap: Majors take a break but the pound doesn't

The Dollar traded mostly sideways against the Euro and the Japanese Yen; however, the pound is trading quite depressed after the inflation report from th Bank of England earlier this week and so GBP/USD extended its decline to the 1.5700 area.
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Japan PM Abe to announce a delay in sales tax next week - Mainichi Shimbun

Japan PM Abe is to announce a delay to the planned sales tax hike in a news conference next week, according to Mainichi Shimbun reports, with the market now expecting the implementation of the 2nd consumption tax hike by mid 2017.
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