Yen Weakens After Opposition’s Election Victory

The dollar rose to 84.10 yen in early trading on Monday, from ¥83.51 in late U.S. trading on Friday, after Japan’s Liberal Democrat Party scored a resounding victory in weekend elections.

Japanese voters on Sunday ousted the current government and set the stage for Shinzo Abe to take the reins as the country’s new prime minister.

Abe has vowed to adopt a large stimulus, cut interest rates and take other measures to revive growth in the world’s third biggest economy.

Marketwatch