Wednesday, February 20, 2013

Buying foreign bonds will be pointless for the Japanese Economy ….. !!!



Japan's Prime Minister Shinzo Abe announced that buying more foreign bonds will be unnecessary after the new BoJ's Chief takes control of the Central Bank, which might be an attempt to weaken the yen.
Avoiding foreign bond purchases would limit tension with Group of 20 nations that pledged this week to refrain from targeting exchange rates for competitive purposes. The yen is swinging as investors assess the limits of the economic campaign dubbed ‘Abenomics,’ with the prime minister preparing to choose a new BOJ governor next week.
On the other hand, the JPY mounted by 0.3% to reach 93.26 against the USD after earlier falling as much as 0.3%. 

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