Japan is entering a long holiday weekend with an unsettled political landscape at home and the possibility of a destabilizing U.S. presidential election next week. Investors are sizing up the prospects and calculating the odds.
They have to contemplate everything from a perfect storm of political turmoil to nothingburgers on both sides of the Pacific, and everything in between.
“The market is now pricing in a higher possibility of Trump's win. The yen is likely to weaken under a Trump victory because of concern for higher inflation and higher yields in the U.S.,” said Norihiro Yamaguchi, senior Japan economist at Oxford Economics.
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