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Japanese Yen and Australian Dollar News: Japan Election and China Woes
It is a pivotal week ahead, with the Bank of Japan’s monetary policy decision likely to impact USD/JPY price trends. However, Japan’s general election on Sunday, October 27, could prove crucial for the BoJ and its plans for monetary policy normalization. New Prime Minister Shigeru Ishiba called a snap general election after securing the Liberal Democratic Party (LDP) leadership. On Sunday, the LDP-Komeito coalition fell short of the 233 seats needed for a majority. The result means the LDP coalition needs to negotiate partnerships with lesser parties, potentially impacting party policies. The Bank of Japan could ... (full story)