Japanese Finance Minister Taro Aso was reported by Reuters last minutes, responding to the questions on the sales tax hike that took effect on Tuesday, October 1st.
Understanding of why sales tax is being raised has deepened compared to the previous rise.
Japan’s economy is clearly recovering, when asked why sales tax can be raised now after govt postponed rise twice.
Hearing that there have been no last-minute buying sprees as with last tax hike.
The sales tax hike had little to no impact on the Japanese Yen, as the USD/JPY pair continues to be driven by broad-based US dollar strength amid increased safe-haven demand. The spot now flirts with eight-day highs above 108.20.
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