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Institutions: Political uncertainty will weaken its positive effect on the yen

Internet reported that Japan's ruling coalition lost more than half of its seats in the Senate, and the yen once rose 0.7% against the US dollar, but then fell back. Nikkei stock index futures changed little, and the spot market was closed due to the holiday. Japanese Prime Minister Shigeru Ishiba will now try to govern with some support from the opposition. "Uncertainty is usually good for the yen, at least initially," said Rodrigo Catril, currency strategist at National Australia Bank."Overall, the election results are not good news for Japanese assets and we expect the yen's strength to weaken." (Jin Shi)

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