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Forex Flash: LDP well positioned to gain 2/3 majority; USD/JPY at 85.00 by year-end - NAB

By FXstreet.com,  December 13, 2012, 04:49:00 PM EDT

FXstreet.com (Barcelona) - Asian investors will get the release of the quarterly Tankan survey this morning, which according to NAB strategists, "is expected to offer a pretext for further BoJ easing actions at next week's BoJ meeting (Wed/Thu)." The bank suspects the BoJ will add between Y5 and 10tn to its asset purchase programme next week.

All the focus, however, remains on Sunday's Japanese election result. As NAB notes, "the latest polls suggest that the LDP could, with the support of New Komeiti, its natural coalition ally, gain enough seats to give it a two-thirds majority in the Diet (lower house), and this would then enable it to override the upper house in pushing through legislation (something that could be critical for the appointment of a new BoJ governor and the two new deputies next March and April)."

NAB continues to keep its ambitious call of Y85 on USD/JPY before year-end.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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