Wednesday, October 3, 2012

Japan Vice FinMin Nakao on Wires

Nothing new to take away, basically its all over same blah-blah again & again.
  • Will take decisive action on any excessive yen movements if needed. (we have heard it million times already, thanks anyway).
  • No comments if Japan will discuss yen one-sided moves at G7 meet. But will discuss Japan fiscal situation and buying of ESM bonds.
  • G7 is opportunity to discuss Europe debt problem, China slowdown. Mainly Europe debt crisis contributing to China slowdown.
  • Europe debt problem main topic for discussion at IMF meeting.
  • China is seen as major ally and relationship with China very important.
  • Lookng for ways to avoid too much dependence on dollar in trading. (A growing voice in world, but no other option).

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