Yen Tumbles Following Report Japan PM Plans Snap Poll

The yen dropped to its weakest level against the dollar since July 2024, as losses accelerated following speculation that Prime Minister Sanae Takaichi may soon call a snap election.

The Japanese currency fell as much as 0.5% to 158.91 per dollar on Tuesday, surpassing the previous low of 158.87 in January 2025. Government bonds also slumped across the curve.