Forex Flash: LDP and New Komeito coalition likely to gain Upper House majority - Nomura

FXstreet.com (Barcelona) - Nomura strategist Yujiro Goto notes that based on past election results, the LDP and New Komeito coalition is likely to gain majority in the upper house at the forthcoming election in July if the coalition gains more than 40% of the votes.

He sees that the result of the polling suggests to him that the ruling coalition is now very likely to gain a majority in the upper house after the election. He writes, “An election to fill a vacant seat in the upper house is scheduled to be held this weekend (April 28) and the result is worth monitoring whether Prime Minister Abe‟s popularity actually leads to more votes for the ruling coalition.”