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We’re sceptical that this will have any impact on the yen or JGB, but Fitch just cut its credit outlook on Japan.It’s not a downgrade, just a revision to the outlook.
According to the ratings agency, Japan needs to embark on fiscal consolidation, yada, yada, yada…
And bear in mind, Japan has had many downgrades from various ratings agencies in the past, and they’ve all done nothing, nor have they been prescient.
So this will probably just get added ot hat pile.
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