• 
• See all for FXstreet.com
• View Print Version

FXstreet.com (Barcelona) - Richard Koo, Chief Economist at the Nomura Research Institute notes that the LDP's relatively low public support in proportional votes is an indication that its policies are not supported by a majority of voters.

He writes, "In an opinion poll conducted on 12-13 January by JNN, a news network centering on TV broadcaster TBS, just 26% of respondents answered that their lives would "get better" under an LDP government, while 63% said their lives would not change."

He suspects this is a source of concern for the new administration. The fact that fully 63% of voters are skeptical of the LDP's policies means the party could still face an uphill battle in the Upper House election this summer if there are problems with its policies or if the opposition comes out with more convincing policy proposals.

However, without a resourceful leader like Mr. Ozawa for the DPJ, Koo suspects that the LDP is unlikely to be outwitted politically. Nevertheless, Mr. Abe has repeatedly indicated his intent to move cautiously until the party scores a victory in the Upper House election this summer, a natural response given his landslide defeat in 2007 which ended the first Abe administration.

Related Forex and Currencies Articles

• 
  Dollar broadly higher before Bernanke testimony
  5/21/2013 08:25 AM
• 
  Natural gas futures rally 2% in early trade to hit 3-week high
  5/21/2013 07:26 AM
• 
  Forex - EUR/USD near session lows, Bernanke testimony in focus
  5/21/2013 07:26 AM