Currency Analyst since 2010

Abe announced a delay in tax hike

Japanese Prime Minister Abe announced that he would delay a planned rise in the nation’s sales tax to 10% till Apr. 2017 and call a snap election to seek a fresh mandate, just 2 years after taking office. Abe said that he will resign if coalition loses majority.

The upper house of Japanese parliament will be dissolved on Nov. 21. The election will take place in middle of Dec.

USD/JPY stays below 117.05 as there was no mention of the stimulus package.

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