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12 Sep 2013
Flash:Yen on the bid but overall a bearish play - Societe Generale
FXstreet.com (London) - Kit Juckes, Global Head of Currency Strategy at Societe Generale notes bids for the JPY but remains bearish overall.
Key Quotes:
“The yen has been helped by the increasing likelihood that japan will see a rise in the consumption tax, offset by fiscal easing elsewhere”.
“With CPI correcting faster than expected, I don’t think the consumption tax hike is a good idea, but I’m not the PM of Japan or anywhere else and the overall fiscal effects will not result in the recovery being de-railed. I’m still a yen bear”.
Key Quotes:
“The yen has been helped by the increasing likelihood that japan will see a rise in the consumption tax, offset by fiscal easing elsewhere”.
“With CPI correcting faster than expected, I don’t think the consumption tax hike is a good idea, but I’m not the PM of Japan or anywhere else and the overall fiscal effects will not result in the recovery being de-railed. I’m still a yen bear”.