ICYMI,
- Sanae Takaichi wins runoff vote in LDP leadership race
- Japan's Takaichi says to carefully consider if current govt-BOJ accord is most appropriate
We've been flagging, along with others, the dell off for yen if Takaichi was to sin. And this is what we've seen in the early hours here in Asia, in very thin liquidity.
USD/JPY has been up to around 149.60 (that I've seen), with yen crosses jumping also.
Earlier:
Its just going on to 6.30am in Tokyo, and 5.30 am in Singapore and Hong Kong. AS these centres come on line we'll get liqudity returning to the marekt to a greater degree.
There is a huge gap for USD/JPY to fill.
For the equity folks, the sharply lower yen makes Japanese stocks cheaper ex-Japan and so should act as a tailwind. Mind the gap though.
