Takaichi's LDP Win Shifts Japan's Political Landscape, Yen Hits Record Lows
Sanae Takaichi's election as Liberal Democratic Party (LDP) chairwoman has potentially shifted Japan's political landscape and currency dynamics. The yen has depreciated, reaching record lows against the euro and dollar, while the euro remains stable at 1.1708 USD.
Takaichi's affinity for Abenomics, the economic policy of former PM Shinzo Abe, is seen as a driving factor behind the yen's depreciation. Her cautious stance on monetary policy during her campaign has raised questions about her plans for aggressive currency exchange and monetary policy, potentially impacting the ruling coalition's majority in both houses of parliament.
Meanwhile, investors are turning to privately collected data and Fed statements to predict the US interest rate path. The ongoing US government shutdown has added uncertainty, with key economic data not being published.
Takaichi's election as Japan's likely next prime minister has sparked changes in the yen's value. Her approach to Abenomics and monetary policy will shape the currency's future. The euro remains steady, while the yen's depreciation has reached record lows.
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