Japan government raises economic assessment for August

USD/JPY sits at 76.65.

Just being told bids +250 mln being seen on EBS in 76.60/65 area.

Will they be enough to hold the line?

Buggered if I know. But they’re there

• Economy picking up, but remains in severe state after earthquake
• Govt raises view on factory output, exports, private consumption
• Further slowdown of overseas economies, volatile forex and stock markets pose risks