Japan’s Goto highlights risk of global slowdown and effects of price hikes

Anil Panchal FXStreet

After witnessing mostly upbeat economic data from Tokyo, Japan’s Economy Minister Shigeyuki Goto crossed wires, via Reuters, early Tuesday.

The policymaker initially cited expectations of witnessing a moderate economic recovery before suggesting the need to pay attention to the risk of global slowdown and the effects of price hikes.

Japan’s Goto also showed readiness to respond flexibly to the economy and prices as needed.

USD/JPY stays defensive

USD/JPY struggles for clear directions as market players await the key US Retail Sales while the latest uptick in Japan’s second quarter (Q2) 2023 Gross Domestic Product (GDP) figures lure the pair sellers to snap a six-day winning streak at the yearly top. That said, the Yen pair prints mild losses near 145.45 by the press time.

Also read: USD/JPY holds steady around mid-145.00s, bulls retain control near YTD peak

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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