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Japan seems poised to call snap election to help strengthen Abenomics – TradeTheNews

FXStreet (Barcelona) - The TradeTheNews Research Team highlight that PM Abe could dissolve parliament and call new elections as soon as next week, if the next stage of the sales tax increase was delayed.

Key Quotes

“Japan PM Abe stated that he had not decided timing of general election and would not comment on Fx levels or moves. He did reiterated view that BOJ easing measures were not targeting the exchange rate and could take steps as needed to cope with effects of weak JPY currency. Japan remained committed to G7 and G20 views on market-determined FX rates”

“The JPY currency continued its soft tone with USD/JPY testing fresh 7-year highs just above the 116 handle in the session."

"Report circulated that PM Abe could dissolve parliament and call new elections as soon as next week, if the next stage of the sales tax increase was delayed. There has been a rash of disappointing Japanese data highlighted by Oct consumer confidence hitting lowest levels since May after three consecutive monthly declines”

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