Economics
Yen Drops as Abe Delays Sales Tax, Calls Early Vote; Krona Rises
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The yen fell against the euro and touched its weakest in more than seven years against the dollar as Japanese Prime Minister Shinzo Abe called an early election and suspended a planned sales-tax increase.
Japan’s currency slipped against most of its 16 major peers as Abe said he will dissolve parliament on Nov. 21. The euro rallied as German investor confidence rose for the first time in 11 months. Russia’s ruble strengthened as the tax season approaches, while Sweden’s krona rallied.