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The YEN continues to look vulnerable across the board, NZD included.

Written by Sam Coxhead on November 23rd, 2012.      0 comments

1:09PM (NZT) The graph below says it all for this pair. The YEN remains under pressure as the likelihood of an LDP party election win looms for Dec 16th. Not only is leader Abe talking about significant monetary policy initiatives, but also fiscal stimulation to deal with deflationary pressure also. The short term outlook for the YEN looks to be a volatile one to say the least. Further NZD outperformance over both the short and longer terms cannot be ruled out as these aggressive policies undermine the value of the YEN (an intended consequence). Many unknowns remain ahead of the election, but certainly the YEN looks vulnerable to these new policy initiatives.
 
The current interbank midrate is:                                                  NZDJPY 67.20 
                                                                                         
The interbank range so far this week to date has been:       NZDJPY 65.39 – 67.51
Topics: NZD JPY
 

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