- The move comes as the JPY has continued to weaken throughout the last two weeks on the premise that the ruling party in Japan will lose power to the LDP party in the December elections.
- Abe the leader of the LDP has been clear in his calls for further easing in monetary policy if he were to come to power.
- Most recently we have also seen the latest trade balance data in Japan for October show a larger deficit than analysts were expecting.
- The weaker JPY is assisting gains over in the local equity market with the Nikkei 225 up close to 1% on the session underpinned by strength in exporters, particularly tech based.