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Japan: Wider support for sales tax hikes, Yen negative - Nomura

FXstreet.com (Barcelona) – There appears to be further evidence that the planned tax hikes in Japan will gain a majority, notes Yujiro Goto, FX Strategist at Nomura, who outlines the satisfactory pro-hike feedback shared by most participants on the consumption tax panel held yesterday.

According to Goto: “We see the increasing support for the tax hikes as positive for Japanese equities and USDJPY, while uncertainties still exist.” The Strategist adds that according to a Nikkei survey of professional domestic investors on the consumption tax hike, released over the weekend, “it suggested that our view has now become a consensus.”

Goto continues: …read more