As Japan prepares for an early election on December 16, the yen has come under pressure, falling against the dollar. Will this trend continue into next year? Ian Stannard, head of European FX strategy at Morgan Stanley, joins Alphaville reporter David Keohane to debate the effect of domestic policy and trade on the yen, as well as its attractiveness as a funding currency. Also under discussion is the euro's outlook for the next 12 months, after showing notable resilience in 2012.

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