The rising cost of living continues to squeeze household incomes ahead of Japan’s upper house election on Sunday. Get your market update from RichardSnowFX here:
The rising cost of living continues to squeeze household incomes ahead of Japan’s upper house election on Sunday. A recent poll suggests that while the governing LDP party are likely to secure a majority victory, support for the current prime minister Kishida is waning. Approval ratings for Kishida came in at 54%, down from 59% three weeks ago.
Kishida is looking to secure greater support within his own party as a worsening inflationary outlook may lead to a move away from legacy “Abenomics” - Japan’s ultra-stimulative and supportive monetary policy that has remained since Prime Minister Shinzo Abe’s tenure.appear unlikely but volatility is still likely to pick up as we head into the weekend.The 4-hour chart shows price action consolidating above 135 while remaining in what appears to be a symmetrical triangle.
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