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Forex pairs in this Article » EUR/USD, USD/JPY
FXstreet.com (London) - Comments by Japan’s Finance Minister Taro Aso that Japan may not go ahead with corporate tax cuts as had been mooted have helped to strengthen the Yen's position, with moderate gains on the dollar.

In an interview, Aso stated that funding sources would be needed if corporate tax rates were to be reduced.

The comments have helped to provide moderate support to the Yen as a safe haven on ongoing US debt ceiling worries.

The US Senate will vote today on a spending bill, the days ahead of the deadline for federal spending authority. It is estimated that the US will reach its current debt ceiling by mid-October. The debate on the debt ceiling has reached a stand off, with Republicans wanting to tie any debt ceiling increase to a cut in the federal budget, while Democrats want to protect spending.

USD/JPY has fallen to JPY98.2250 today, down 0.74 percent.

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