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Japan’s Prime Minister Shinzo Abe is on wires while touching various trade/political issues. His comments on Iran could also be read in comparison to the Iranian President’s latest words saying that Iran would not negotiate on the issue of its nuclear program as long as sanctions remain in place.

Key quotes

“Asked Iran President to take constructive role in Middle East.”

“Japan and international community strongly condemn attack on Saudi oil field.”

“Got win-win in Japan-US trade deal.”

“Japan will continue to be free-trade flag bearer.”

“Believe Japan-US trade deal will lead to Japan’s further economic growth.”

“Have already taken steps to counter impact of Japan sales-tax hike. If downside economic risks materialize, will not hesitate to take steps.”

“Trump agreed US won’t impose saction 232 tariffs on Japan auto, parts while talks under way.”

FX implications

This seems to have a positive impact on the Japanese Yen (JPY). Though, investors are likely waiting for Tokyo open to response as the USD/JPY pair trades little changed to 107.76 by the press time.