Friday, August 29, 2008

Japan unveils $18Billion stimulus package

The other day I mentioned that a friend was looking for Usd/Jpy to move lower first but then reverse course and head considerably higher. He mentioned to me at the time that he was unsure of what the catalyst would be, but he would look to buy dips.

Maybe this is the stimulus.

Japan unveiled a 2 trillion yen, or $18 billion, stimulus package Friday, including assistance to small businesses and other pump-priming measures to shore up its flagging economy hit by soaring energy and material prices.

The new measures include discounts on expressway tolls, assistance to farms and help for part-time workers to find better jobs, according to the Cabinet Office. Funds were also earmarked for better medical care, ecological technology, housing loans and education, it said.


Good Luck and Good Currency Trading.



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