Non-Economic Developments Dominate Ahead of US CPI

Mar 13 01:03 2018 Print This Article

The yen's 6% gain against the dollar this year makes it the strongest of the major currencies in here in the first quarter.  Investors have been given another reason not to resist the seasonal pressures that often see Japanese investors repatriate capital ahead of the end of the fiscal year later this month.  

Many see the eruption of the scandal that threatens senior government officials as yen positive because it weakens those that ostensibly want to depreciate the yen through monetary policy.   The scandal involves falsifying documents to conceal a sweetheart deal. The government sold of state-owned land to a school-operator, reportedly with connections to Prime Minister Abe's wife at an incredibly low price. At the end of last week, the head of the National Tax Agency chief resigned over comments he made before the Diet about the case.  There is also an investigation into the possible suicide of a local finance ministry official that handled the land sale.  

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About Article Author

Marc to Market

Marc Chandler has been covering the global capital markets in one fashion or another for more than 25 years, working at economic consulting firms and global investment banks. Chandler attended North Central College for undergraduate work, where he majored in political science and the humanities. He holds master's degrees from Northern Illinois University and University of Pittsburgh in American History and International Political Economy. Currently Chandler teaches at New York University Center for Global Affairs, where he is an associate professor. A prolific writer and speaker he appears regularly in the press and has spoken for, and is an honorary fellow of, the Foreign Policy Association. In addition to being quoted in the financial press daily, Chandler has been published in the Financial Times, Foreign Affairs, and the Washington Post. In 2009, Chandler was named a Business Visionary by Forbes. In 2009, his book, Making Sense of the Dollar, was published by Bloomberg Press and received a Bronze Award from Independent Publishers.

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