USDJPY Falls Below 100 Again After Japanese Election

Following the Japanese upper-house election over the weekend, the dollar has once again fallen below 100 against the yen.

From FinViz:

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As expected, the party of Prime Minister Shinzo Abe (the LDP) one big in upper house elections. But there’s a little bit of talk that maybe they could have done slightly better (they didn’t win an outright majority, and will have to be part of a coalition). Or perhaps the big victory was totally priced in.

Nonetheless, there’s a slight bout of risk aversion to start the week, and so the yen is strengthening, countering the general trend since Abenomics began, which has seen the yen weaken considerably.

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