Forex Flash: Not a common occurrence, but markets are looking for leadership from Tokyo - BBH

FXstreet.com (Barcelona) - Brown Brothers Harriman analysts note that it is not a common occurrence, but their sense is that the financial markets are looking for leadership from the Tokyo market.

They note that official comments from Japan ahead of the G20/IMF meetings at the end of the week will likely emphasize the domestic objectives of the Qualitative and Quantitative easing strategy. They write, “The comments may even seek to play down the significance of a weaker yen in the fight against deflation and instead emphasis lifting inflation expectations. Vice Finance Minister Obuchi refused to comment on specific levels earlier today (yen, stocks and yields).”