Japanese finance minister Aso, while speaking in Parliament, said sales tax is planned to increase in 2017 unless unusual events. Markets fear a sales tax hike would push Japanese economy back into recession as it did when tax was raised. Japan was supposed to have increased the consumption tax to 10% from 8% last October, but it was delayed by PM Abe, who felt the economy would not be able to withstand a tax hike. Earlier today, Nobel-prize winner Joseph Stiglitz urged Japanese Prime Minister Shinzo Abe not to raise tax since it would be a wrong thing to do given the weak global economy. For more information, read our latest forex news.