USD/JPY back to the lows seen in really early trading this morning (NZ time):
Related to politics
- uncertainty = flight to liquidity yen buying
That's the chatter about the place, anyway ...
mtc more to come
The background to this is (this from around a year ago, sale was in 2016 though):
- An educator accused of using his political clout to curry favor with Japanese politicians, including the first family ... ,Yasunori Kagoike ... his Moritomo Gakuen group purchased land from the government at one-seventh the price of the plot's assessed value, according to a public copy of the land sale.
- The land was bought to build a school.
parliament is now looking into whether Kagoike, who has been accused of promoting extreme nationalist views, used his connections with some right-leaning politicians -- including Prime Minister Shinzo Abe -- to secure a discount for Moritomo Gakuen, which runs schools in Japan, when the land was bought in June.
Coming today and over the weekend -
- Japan's Finance Ministry to admit to the Diet on Monday that alterations were made to documents on a controversial state land deal.
Opposition parties are calling for Aso to resign (finance minister).
