Institution: The positive impact of political uncertainty on the yen will weaken

According to Golden Finance, the ruling coalition in Japan lost more than half of its seats in the Senate, and the yen rose 0.7% against the US dollar at one point, but then fell back. The Nikkei stock index futures have not changed much, and the spot market is closed due to the holiday. Japanese Prime Minister Shigeru Ishiba will now attempt to govern with some support from the opposition. Uncertainty is usually favorable for the yen, at least initially, "said Rodrigo Catril, currency strategist at the National Australia Bank." Overall, the election results are not good news for Japanese assets, and we expect the strength of the yen to weaken