Japan’s Agriculture Law Changes Next on Abe’s Agenda

While past governments of the ruling Liberal Democratic Party have relied on the JA for support, rewarding the farmers with subsidies and handouts, Abe has put himself in conflict with the group over his decision to join talks for the 12-nation Trans-Pacific Partnership, a free-trade group that would jeopardize Japanese import tariffs of as much as 778 percent.

In the year since Abe’s party returned to power, the yen has weakened about 19 percent against the dollar as the government pushes policies to end two decades of deflationary malaise. The currency was 0.1 percent weaker at 103.53 per dollar at 9:39 a.m. in Tokyo, and the Topix index of stocks was down for a third day.

via Bloomberg

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza