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Yen Drops After Elections in Japan

July 11, 2016 at 10:07 by Vladimir Vyun

Stacks of the Japanese yen coinsThe Japanese yen dropped today as the landslide victory of the ruling coalition gave Prime Minister Shinzo Abe to take bolder steps for reviving economic growth.

Shinzo’s Liberal Democratic Party won in the Upper House elections over the weekend. The Prime Minister ordered a new package of fiscal stimulus after the elections. Meanwhile, core machinery orders fell 1.4% in May even though economists had promised an increase.

USD/JPY climbed 1.5% from 100.61 to 102.15 as of 10:00 GMT today. EUR/JPY gained 1.4% from 111.14 to 112.69.

If you have any questions, comments, or opinions regarding the Japanese Yen, feel free to post them using the commentary form below.

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