Abe says he will order new policy package at cabinet meeting later

Japanese PM Abe speaking to reporters in Tokyo 1 Nov

  • will compile new package early next month
  • will order extra budget by year-end
  • aim is to get Japan out of deflation

Nothing new in that part of the package then! Seems out with the old and, er, back in with the old but he may surprise us all if he’s got any ammo left. Maybe the 4th arrow? lol

  • hopes BOJ will try to achieve 25 price target
  • no decision made yet on next BOJ gov

ICYMI Abe was earlier today re-elected Japanese PM by the lower house after his convincing election victory.
Meanwhile USDJPY breaks up through 114.00 offers/res on stronger ADP jobs data but it’s ongoing yen weakness generally as GBPUSD and EURUSD unfazed at 1.3300 and 1.1630 still
Larger option expiries in play today to help contain range.
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