A landslide election victory for Japan Prime Minister Shinzo Abe sent the yen down and leaves equities in Tokyo poised to climb, with the path paved for a continuation of loose monetary policy.
With Abe now in good political shape ahead of a pending decision on nominating the Bank of Japan’s leadership, the Japanese currency slumped to its weakest since July. Elsewhere, equities were set for small gains in Australia and Hong Kong, while traders in China will look forward to monthly property-price data. The New Zealand dollar extended losses amid continued skepticism among traders about the country’s economic-growth outlook under incoming Prime Minister Jacinda Ardern.
Source: Bloomberg Pro Terminal
Jr Trader Alexander Kumanov
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