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Yen Weakens, Japan Stocks Face Pressure on Election Blow to LDP
The yen fell to three-month low and Japanese stocks were set to slip Monday after the Liberal Democratic Party and its coalition partner were dealt a heavy blow in a snap election. The currency weakened about 0.6% against the dollar, with the slide coming after four straight weekly declines that may force authoritiers back into the market to protect the yen. While the currency’s depreciation typically supports Japanese stocks, investors are concerned that political stability will put Prime Minister Shigeru Ishiba’s position in doubt. “The initial reaction will be a fall in stock prices and a decline in the ... (full story)
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