Economics
Yen Drops to April 2011 Low After Pro-Easing Abe Wins
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The yen fell to the weakest level since April 2011 versus the dollar after Shinzo Abe’s Liberal Democratic Party won Japanese elections yesterday, giving him a mandate to act on pledges of expanded monetary stimulus.
Japan’s currency declined as Abe has called for the central bank to double its inflation goal to 2 percent and undertake unlimited easing to revive economic growth. Bank of Japan policy makers meet on Dec. 19-20. Brazil’s real fell as economists cut growth forecasts for the nation.