Yen hits 3-month low vs. US dollar as Japan ruling bloc loses majority

From mainichi.jp

The yen sank to a three-month low in the lower 153 zone against the U.S. dollar early Monday amid political uncertainty in Japan after the country's ruling coalition lost its majority in the general election the previous day. Tokyo stocks opened lower but turned higher in early trading, tracking a rise late last week of the technology-heavy Nasdaq index, while exporter issues were boosted by the yen's decline. At 9 a.m., the dollar fetched 152.95-96 yen compared with 152.27-37 yen in New York and 151.94-96 yen in Tokyo at 5 p.m. Friday. The euro was quoted at $1.0795-0799 and 165.11-18 yen against $1.0791-0801 and ... (full story)