Japan's budget proposal for the 2023-2024 fiscal year (FY) could be as high as 114 trillion yen, the Nikkei reported, adding that the government could issue more than 35 trillion yen in bonds, per Reuters.
The news also quotes Friday’s comments from Finance Minister Shunichi Suzuki who said Japan must stick to its target of a primary budget surplus by the 2025 fiscal year, even as a planned increase in defense spending raises the spectre of worsening already dire public finances.
USD/JPY retreats from 137.00
The news appears to impress the Yen buyers who recently cheered hawkish expectations from the Bank of Japan (BOJ). That said, the USD/JPY pair drops to 136.80 by the press time.
Also read: Bank of Japan Preview: Policymakers can boost the JPY
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD remains heavy on 1.0700 as US election exit polls point to a Trump win
EUR/USD sustains the sell-off on 1.0700, down nearly 1.50% so far, as the focus remains on the US Presidential election. With polls closed in most states, including critical battlegrounds, the Republican nominee Trump is seen leading, spurring a US Dollar upsurge.
USD/JPY holds sizeable gains near 154.00 on a potential Trump win
As initial results show former President Donald Trump may return to office, USD/JPY consolidates latest gains near 154.00 early Wednesday. The US Dollar recovers broadly, while stock markets are also on the run. The final outcome may change the picture.
Gold price bulls remain on the sidelines, around $2,740 after early US election results
Gold price edges lower on Wednesday in reaction to the initial US election exit polls. Improving the odds of a Trump victory boosts the USD and weighs on the XAU/USD. A sharp rise in the US bond yields further undermine the non-yielding yellow metal.
Bitcoin breaks all-time high of $73,777 as Trump takes the lead
Bitcoin breaks above its all-time high of $73,777 on Wednesday, buoyed by Donald Trump's poll lead. At the same time, Ethereum is nearing its key resistance level, with a strong close above it, potentially signaling upward momentum. Meanwhile, Ripple finds support around its daily level.
DOGE could hit a new yearly high after 50% rally in twenty days
Dogecoin is up 8% on Tuesday following rising expectations of a Donald Trump victory in the ongoing U.S. presidential elections. If the bullish momentum continues, the meme coin leader could rise to a new yearly high.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.