Japan's NISA investments seen adding downward pressure on yen

TOKYO -- Japanese retail investors are snapping up foreign assets through the revamped Nippon Individual Savings Accounts, stoking speculation that the tax-exempt investing program could contribute to further weakness in the yen.

"Every investor overseas knows about the revamped NISA," said a source at a brokerage. "Many are especially interested in the scale of yen-selling and dollar-buying tied to the program, and comparing it to Japan's trade deficit."