Yen Selling Accelerates as Japan Policies Earn Public Backing

From bnnbloomberg.ca

Yen selling is accelerating after Japan’s ruling coalition expanded its majority in Sunday’s upper house election held Sunday, with investors interpreting the result as a quasi-referendum on the country’s super-easy monetary policy. The currency fell as much as 0.8% against the dollar, exceeding the closely-watched 137 level. Bank of Japan Governor Haruhiko Kuroda reiterated Monday that he won’t hesitate to add monetary stimulus if needed to boost the stuttering economy. A rise in Treasury yields and solid US labor data on Friday also gave an additional boost to the dollar, which climbed against most of its ... (full story)