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Forex pairs in this Article » USD/JPY (Barcelona) - Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ notes that in Japan, Prime Minister Abe spoke yesterday on the consumption tax issue.

He notes that PM Abe stated that the decision to raise the consumption tax to 8.0% next year will depend upon the strength of the Japanese economy in the second quarter. Further, he adds that the latest weekly securities transactions report from the MoF released overnight also continued to reveal that the Japanese investors sold foreign bonds for the fifth consecutive week with net sales totaling around cumulative JPY3.9 trillion. He writes, “Abenomics has yet to prompt a pick up in yen weakening capital outflows from Japan.”
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