Japanese yen reacts strongly to the local parliamentary elections

October 23, 2017 9:54 amComments Off on Japanese yen reacts strongly to the local parliamentary electionsViews: 27

Japanese yen US DollarJapanese yen reacts strongly to the parliamentary elections and the victory of Prime Minister Shinzo Abe. The pair EUR/JPY increases in a relatively even channel, as the upward trend continued during the whole trading session. In the early hours of the Asian session today, the local currency started declining against the all other major currencies, including the US dollar.

The ruling coalition in Japan of the Prime Minister Shinzo Abe won the extraordinary parliamentary elections in the country. The Liberal Democratic Party of Abe, as well as its CoM’s coalition partner, will take more than 300 MEPs into the 465-seat Japanese Parliament.

With this victory, Shinzo Abe is about to become the country’s longest-running prime minister. He took the post for the first time in 2006.

The victory of the ruling coalition will probably also mean a continuation of the program of relaxed politics, called by many analysts Abenomics.

Shinzo Abe promised strong counter-measures against North Korea, after winning a decisive victory in Sunday’s election. He would discuss these measures with US President Donald Trump, who is visiting Japan next month, as well as with other world powers such as Russia and China.

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