Saturday, 15 December 2012

Magic Number For USD/JPY: 320 - Traders


Investors are paying attention to Japan's election on Sunday, and the focus is on whether the LDP, together with its partner New Komeito, can secure 320 seats, or a two-thirds majority of the powerful Lower House which would enable a coalition to overturn the Upper House's veto, traders in Tokyo say. If the coalition gains more than 320 seats, the pair would rise sharply from Monday morning, targeting 85 from the current 83.64, they say.

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