It's a very gloomy picture. We can reasonably expect a very weak economic picture for the first and second quarter.
More Quotes from Tomoko Fujii:
In general reducing the public debt will require drastic public sector reform. To implement drastic reforms, Koizumi needs to gain public support.Tomoko Fujii
He's likely to make more bullish comments on the economy and deflation. That will put upward pressure on short-term interest rates, which is yen positive.
Tomoko Fujii
We cannot expect a grand coalition to undertake bold and speedy reforms, especially of the labor market and tax system. The euro looks weak now.
Tomoko Fujii
Pressure on China to revalue against the dollar leads other Asian currencies, including the Japanese yen, to strengthen against the U.S. currency.
Tomoko Fujii
The trade surplus figures showed strong exports and domestic demand. This shows the economy is robust enough to withstand a rate increase later this year, supporting the yen.
Tomoko Fujii
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