Shinzo Abe, the former PM of Japan, has won a gigantic victory in today’s Japanese parliamentary election.Results indicate that his LDP party (which once ruled Japan for 50 years) has won a sweep of both houses of parliament.
Although Abe is a conservative, a big part of his platform related to the Bank of Japan, and a mandate that it get more aggressive about specifically targeting inflation, and engaging in easing until it was hit (Japan has undergone many bouts of QE, start and stop, with mediocre effect.
Then yen has been getting creamed the last couple of months, in part (supposedly) because of this expected electoral result.
Numerous analysts say they are betting against the yen in 2013, thanks to an expectation of BOJ easing, and the yawning trade deficit, which is a relatively new thing for the country.
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