Forex Broker: Japanese Democratic Party’s Failure in Election May Help Yen

[amandalanlulei]

Forex Broker—- Masafumi Yamamoto, veteran Japanese forex strategist of Barclays Capital, commented on Monday (July 12th) that the failure of the Democratic Party in Japanese Senate election may bring benefits to the yen, because Prime Minister Naoto Kan, who supports a weak yen, will have less influence to the Democratic Party and the ruling coalition.
Yamamoto pointed out that the disadvantage of the Democratic Party would weaken Kan Naoto’s power to obtain support for his policies, which would push him to internal Party challenges before the Democratic Party leader election in September.
In his opinion, the failure of the Democratic Party will pose itself huge resistance to its future reform of any bills. In another word, the governmental attempt to improve Japanese finance will not be smooth.
At 6:48 GMT, USD/JPY forex rate reported high at 89.15 yen.—-Forex Broker: IKONFX

By Amanda.