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Japanese markets continue to sway to Abe – BBH

FXStreet (Barcelona) - Marc Chandler, Global Head of Currency Strategy at BBH Global notes the Japanese markets to continue to sway to the tune of speculation about Abe’s electoral strategy.

Key Quotes

“Further speculation that Abe will take the political gambit of postponing the sales tax increase and calling for a snap election supported the Nikkei overnight. The index rose 1.1% and USD/JPY drifted higher to test (but fail) the 116.0 level. “

“Recent polls suggest that his support has fallen to 44% from a high of 66% last year, so it is far from certain that this strategy will work. The cross currents determining Abe’s public standing include issues ranging from economic policy to Japan’s dealings with China and its position towards nuclear power.”

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