Japan’s Abe to dissolve parliament on 28 Sept

Japanese PM Abe now confirming widely expected snap election

  • dissolving parliament to resolve national crisis
  • determined to protect Japan by winning public’s trust
  • will resign if fails to win majority in lower house
  • can’t allow N Korea situation to affect stance on election
  • want to seek mandate to proceed on strong diplomacy
  • no choice but to boost pressure on NK by various means
  • want to use less of sales tax hike for repayment of debt
  • time has come to confront largest challenge, the ageing society
  • will stick to govt stance of achieving primary budget surplus

Election date as yet unannounced but 22 Oct widely touted.

USDJPY lower at 112.05 as is EURJPY at 133.25 as EURUSD breaks lower again to post 1.1892 and EURGBP falls again to test 0.8786 session lows in a general euro retreat post German election.

                                                      EURJPY 15m

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