24 Jun 2013
Flash: USD/JPY could reclaim 100.00 soon – UBS
FXstreet.com (New York) - Prime Minister Abe's party and his political allies together won an overall majority in regional elections held over the weekend in the Tokyo metropolitan area.
According to Gareth Berry, a Research Analyst at UBS, The outcome bodes well for the prime minister's prospects in the upcoming Upper House elections, which are likely to be held on July 21 – that in turn is good news for USD/JPY.”
Securing a solid political platform is a necessary condition for the introduction of far-reaching structural reforms, and the prime minister seems well on his way to achieving this. “Other supportive factors are also neatly falling into place, suggesting USD/JPY could reclaim 100 soon, then advance towards our end-2013 forecast of 110.”
According to Gareth Berry, a Research Analyst at UBS, The outcome bodes well for the prime minister's prospects in the upcoming Upper House elections, which are likely to be held on July 21 – that in turn is good news for USD/JPY.”
Securing a solid political platform is a necessary condition for the introduction of far-reaching structural reforms, and the prime minister seems well on his way to achieving this. “Other supportive factors are also neatly falling into place, suggesting USD/JPY could reclaim 100 soon, then advance towards our end-2013 forecast of 110.”