- Reiterates call for BoJ inflation target of up to 3%.
- Also, we are hearing market talk of model buying in EUR/JPY - Unconfirmed.
‘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.
Reaction details (04:29)
- In the following 7 minutes after these comments USD/JPY has moved higher by 27 pips from 80.19 to 80.46.
- Nikkei 225 moves to session highs now trading higher on the day by 1.41%
- JGB's also moved to session high as an election of Abe would be supportive for more aggressive policy from the BoJ.
Analysis details (04:13)
- The market is reacting to this news aggressively as it looks increasing likely that Abe will take power in Japan.
- This comes after Noda called for the dissolution of parliament yesterday and for elections on December 16th.
- USD/JPY has moved higher by 1 point since the initial setting of an election date by Noda yesterday.
15 Nov 2012 - 04:02 - Forex Rumour - Source: Newswires
RANsquawk provides audio news and commentary for over 15,000 professional traders and brokers worldwide. Services include: