Japanese Trade Minister was on the wires last minutes, via Reuters, also voicing the need for an extra budget of around JPY 10 trillion.
- Japan’s Aso: Tax revenue for FY19 may be smaller than expected
Meanwhile, Japan’s lower house of parliament approved on Tuesday a limited trade deal agreed between the US and Japan. However, uncertainty still prevails over the US tariffs on the Japanese auto imports.
“Japan has estimated the initial deal will boost its economy by about 0.8% over the next 10-20 years, when the benefits fully kick in”, per Reuters.
The Yen stays bid in early Europe, keeping the USD/JPY pair in a narrow range around 108.60 levels, as markets trade cautiously amid trade pessimism and US President Trump’s latest tweet on Fed.
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