Japanese Prime Minister Hatoyama thinks his new government can secure 7 trillion yen ($77.54 bln) in 2010/11 to carry out his party’s policies.
The offical says it is important to enact policies to relieve the burden on households, as the economic outlook is unclear.
The new government will be facing pressure to make good on campaign promises, to focus spending on consumers, cut waste and reduce bureaucrat control on policy.
USD/JPY is showing tentative signs of steadying, presently back up at 90.35 from an earlier 90.13 session low. Aforementioned buy orders down at 90-00/20 ahead of 90.00 barrier option interest are so far soaking up the sellling pressure.