September 27, 2024 05:22 GMT
JPY: Yen Weakens As Takaichi Faces Ishiba In LDP Leadership Run Off
JPY
USD/JPY has rallied to fresh highs, the pair last around 146.30/35, which is around 1% weaker in yen terms. We aren't too far away from the 50-day EMA at 146.72. The LDP leadership race drops down to two candidates - Ishiba and Takaichi, who will face off in a run off vote shortly. The fact that the BOJ dove, Takaichi, is still in the race is clearly weighing on the yen.
- Takaichi achieved 181 votes in the first round, Ishiba got 154 votes.
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