News Headline Summary

Japanese PM Noda says he would not mind dissolving the lower house on November 16 for snap election if opposition meets demand on electoral reform

Reaction details (06:49)

- USD/JPY prints fresh high shortly after, supported by market talk of domestic names on the bid. Talk of stops above 79.70.

‘Market talk’ – Signifies information that has not been formally tested through traditional journalistic channels and therefore is to be treated as unsubstantiated. Any interpretation of the talk is taken at the readers own risk and is a representation of the rumours within the market place and never generated by ourselves.

Analysis details (06:49)

- He is confirming the source cited in Kyodo, for more information, please refer to the headline at 05:57GMT.
- Note, the ruling party is likely to lose majority to the main opposition leader Abe who is known for his pro-monetary easing stance. Hence the softening of the JPY in recent trade.
- Noda's approval rating in recent polls has been at its all time lowest levels.

14 Nov 2012 - 06:20 - Forex Rumour - Source: Newswires

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