Japanese economic minister out on the wires 12 July 2016
- possible that construction bonds will be issued
- extra budget to fund stimulus will be submitted to extraordinary Diet session in Autumn
- didn't discuss funding sources for stimulus at meeting today
- stimulus package to be compiled by end-July
- hard to imagine a sudden spike in interest rates even in medium to long term
The lack of specifics, no size of package mentioned and confirmation of the delay sends USDJPY back down through 103.00 with yen demand capping core pairs too.
Anyone got a larger ice bucket for my fingers? Orders on the way when the headlines dry up.
No Ryan today as he's back at TipTV around 09.00 GMT I believe.
