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15 Dec 2014
Abe’s win to open doors for more aggressive easing – Investec
FXStreet (Barcelona) - The Investec Team notes that Abe’s re-election victory opens the door for a more aggressive easing as the PM might seek to push through a new mandate.
Key Quotes
“The Japanese Yen has had a volatile session following the results of the Japanese general election where Current PM Abe’s coalition scored a decisive re-election victory, gaining a total of 326 seats (previously 325), enough for a super majority. Voter turnout was exceptionally low and Abe’s victory was slightly below even the most conservative estimates. Despite this, the election win opens the door for a more aggressive easing as Abe-San will seek to push through a new mandate. USDJPY made an initial push higher, trading up to 119.13. However, profit taking quickly emerged and the pair plunged to a low of 117.78 before stabilising in the mid-118 handle this morning.”
Key Quotes
“The Japanese Yen has had a volatile session following the results of the Japanese general election where Current PM Abe’s coalition scored a decisive re-election victory, gaining a total of 326 seats (previously 325), enough for a super majority. Voter turnout was exceptionally low and Abe’s victory was slightly below even the most conservative estimates. Despite this, the election win opens the door for a more aggressive easing as Abe-San will seek to push through a new mandate. USDJPY made an initial push higher, trading up to 119.13. However, profit taking quickly emerged and the pair plunged to a low of 117.78 before stabilising in the mid-118 handle this morning.”