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Hardy: Japan, the yen and you
What next for the Yen after Prime Minister, Shinzo Abe wins Japan's election? Saxo Bank's Head of FX Strategy, John Hardy says we're at something of a crossroads. If rates continue to rise and the Fed commits to tapering its bond buying programme, the yen is going to fall further. But if risk appetite crumbles amid weak US data, then the yen could strengthen against the Dollar.
The key question is whether Prime Minister Abe is really on the road to economic reform. If he is, that would be yen positive. If, however, he focuses more on constitutional reforms, then we could see the dollar strengthen.
01:42 minutes
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