Yen Remains in Choppy Trading After Ishiba’s Surprise Win
- Ishiba’s comments over the weekend cool concerns over rates
- Yen fell as much as 0.5% after surging on his win Friday
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The yen remained in choppy trading as the market’s shock subsides over Shigeru Ishiba’s victory in the leadership race of the ruling Liberal Democratic Party.
Japan’s currency dropped as much as 0.5% to 142.95 yen per dollar in early morning trading in Tokyo on Monday, then swung to gains in the afternoon to 141.65 at one point. This follows its 1.9% surge on Friday in the wake of Ishiba’s unexpected win over dovish opponent Sanae Takaichi. The Nikkei 225 Stock Average closed the session 4.8% lower.