USD/JPY, EUR/JPY Flows: NKS: Central Govt Debt At Y1.011 Quadrillion end Sept

Published at 07:35 (GMT) 08 Nov

Forex Market Alerts

NKS/DJ: Japan's central-government debt continued to grow and stood at Y1.011 quadrillion (Y1,011,000,000,000,000) as of the end of Sep - MoF said on Friday.

The tally increased from Y1.009 quadrillion at the end of June, when the total topped the quadrillion mark for the first time ever. The amount is more than twice the size of the nation's economy, which stood at Y475 trillion in 2012, making Japan by far the most indebted country among advanced economies.

On FX, ongoing concerns over Japan's public debt, with focus on sales tax hike from 5 to 8%. Also fiscal reforms, and concerns over Japan sovereign ratings as well, given the soaring debt. USD/JPY at 98.15-16, tight range around 98.05 to 98.25 today. 20 pips vs 2 big figures on Thursday after ECB. US GDP! Focus on US NFP. Offers 98.40-50/99.00. Bids at 97.80-90. EUR/JPY at 131.55-60, off the 1-month lows of 131.22, seen post ECB cut, Cross/JPY stoploss sales on US stocks fall. Bids 131.00-10, offers at 132.00-10 for now. JGBs firmer today, 10-year yields -0.005% at 0.585%. Eye MoF, BoJ comments given the record Y1.011 quadrillion government debt. WL

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