Yen wobbles, vulnerable to political reverberations [Yahoo! Finance]
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Source: Yahoo! Finance
of an election in Japan over the weekend that is likely to complicate the Bank of Japan's (BOJ) policy normalisation plans. In the broader market, the dollar retreated from its recent highs as it tracked U.S. Treasury yields lower, though it remained on course for yet another weekly gain. Japanese voters will head to the polls on Sunday for a general election, with polls showing the ruling Liberal Democratic Party (LDP) could lose its long-held dominance. The uncertainty and prospect of political instability could have implications for the BOJ's rate hike path, as it tries to steer a smooth lift-off from near-zero interest rates. The central bank next meets on Oct. 30-31. The yen was last 0.1% lower at 152 per dollar and was looking at a 1.5% loss for the week. It had earlier gained a touch on the back of slightly better than expected Tokyo inflation data, though core consumer prices came in below the BOJ's 2% target for the first time in five months. "There is some sugges
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