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Forex pairs in this Article » (Barcelona) - With the Japanese general election but a few days away, the analysts at Brown Brothers Harriman note that a disappointing Tankan survey has helped keep the Yen under pressure.

They write, "The diffusion index for large manufacturers fell to -12 from -3 in September and this was a bit worse than expected. The larger service providers also saw sentiment slip to 4 from 8. The relative bright spot was capex plans, which improved to 6.8% from 5.4%."

They feel that the weak results can only strengthen views that 1) the BoJ is likely to expand its asset purchase program at next week's meeting by JPY 5-10 trn and 2) the DPJ are going to be swept from office and replaced by a party advocating aggressive monetary, fiscal and foreign policy.
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