Abe wins Upper House
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After Abe’s huge electoral victory over the weekend which saw his party gain control of the Upper House and strengthen their position as well as Abe’s mandate. He did confirm that his focus will remain on the Japanese economy and not shift to a nationalist agenda as rumors had it.
I do not think Abenomics will have the desired impact and eventually will fail just like they did last time, but it sure causes the Japanese Yen to jump like Disney’s Gummi Bears. The USDJPY broke below the 100 Yen level and I think we will see a correction back down to the 93.00 level throughout the rest of the year
That is just my contrarian prediction.