The yen traded wildly Friday as the Liberal Democratic Party’s presidential election came down to the wire with two candidates with differing views on the Bank of Japan and interest rates.
In the runup to the vote, the Japanese currency went from about ¥145 to the dollar in the morning to well above ¥146 in the afternoon as economic security minister Sanae Takaichi became the favorite in the race.
Takaichi is notably dovish on economic matters and believes that the Bank of Japan should be cautious in raising interest rates.
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