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Will Yen be hit by 'currency crisis' fear? - RBS

FXStreet (Bali) - In the weeks/months to come, if the JPY were to slide faster than equities rallied on a sales tax hike delay, according to Greg Gibbs, FX Strategist at RBS, it would appear that it has more to do with ‘currency crisis’ fear.

Key Quotes

"A delay in a consumption tax hike is not very good for equities, since its delay would also throw more doubt on a possible cut in corporate taxes that may support Japanese profits and encourage faster Japanese investment in production capacity at home."

"The negative implications for equities may be hard to see if the JPY weakens and boosts earnings in local currency terms. To date, the resurgent USD/JPY has been accompanied by reinvigorated Japanese equities. If the JPY were to slide faster than equities rallied then it would appear more about ‘currency crisis’ fear."

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