June's AI-picked stock updates now live. See what's new in Tech Titans, up 28.5% year to date.Unlock Stocks

Full-Scale Yen Sell-Off Since LDP Won Japanese Elections

Published 12/18/2012, 05:15 AM
Updated 05/14/2017, 06:45 AM
JP225
-
JPY/USD
-
NWSA
-
NOTE
-

A full-scale sell-off of the yen has been underway since the Liberal Democratic Party won a landslide victory in Japan's national elections. The yen reached a new low since April 2011, bottoming out at 84.48 JPY/USD. It would appear that markets are delighted with the victory, as most riskier assets, including the Nikkei 225 Stock Average and futures on U.S. equities have gained a couple of points on the news.

On a gloomier note, the decision by Italian Prime Minister Mario Monti to resign after the budget is approved this week could prove to be a major blow to efforts by the eurozone to get out of the impasse that has been lingering now for three years. The euro is nevertheless holding its own, and is up close to 9% against the USD since July.

Apart from November's Canadian Existing Home Sales figures, no major news is expected in North America today. Wishing you a great day.
Economic Data

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.