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29 Apr 2013
Forex Flash:LDP edges closer to Japanese Upper House majority - Nomura
FXstreet.com (Barcelona) - Nomura Strategist Yujiro Goto of Nomura notes that the LDP won an important seat in the Upper House recently.
He begins by noting that the LDP won the upper house election, to fill a vacancy in Yamaguchi prefecture on Sunday, gaining another seat in the house. He notes that the party now has 84 seats in the house, only one seat fewer the tha DPJ. Further, he adds that the the LDP candidate won more than double the votes of the candidate supported by the DPJ and other small parties, suggesting the LDP‟s popularity remains strong, as suggested by the historically high popularity rating for the cabinet and the LDP. He writes, “The result suggests the LDP is likely to win the upcoming upper house election in July, which would allow Prime Minister Abe to serve for much a longer period than previous prime ministers.”
He begins by noting that the LDP won the upper house election, to fill a vacancy in Yamaguchi prefecture on Sunday, gaining another seat in the house. He notes that the party now has 84 seats in the house, only one seat fewer the tha DPJ. Further, he adds that the the LDP candidate won more than double the votes of the candidate supported by the DPJ and other small parties, suggesting the LDP‟s popularity remains strong, as suggested by the historically high popularity rating for the cabinet and the LDP. He writes, “The result suggests the LDP is likely to win the upcoming upper house election in July, which would allow Prime Minister Abe to serve for much a longer period than previous prime ministers.”