JPY – Japan’s Prime Minister Resigns

The Japanese Prime Minister stepped down after only nine months in office last night because of political pressure. The JPY did lose some ground to the USD on the heels of the government shake up, but this is a situation that has occurred in Japan before and one that investors for the most part are accustomed to. Asian bourses did turn in slightly negative performances mirroring their counterparts. Risk sentiment will be the key ingredient for trading today for the JPY and USD pair. The political crisis in Japan while important may prove a mere nuisance for investors within a week.

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