Abe Secures Two-Third Majority in Snap Election, Yen Lower

Landslide victory of PM Shinzo Abe’s Liberal Democratic Party (LDP) at the snap election has sent USDJPY to the highest level since July. Unlike other currencies that tend to strengthen in light of erasure of domestic uncertainty, Japanese yen, as a safe haven asset, weakens as the political status quo is preserved.

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Abe Secures Two-Third Majority in Snap Election, Yen Lower