Yen Hits Three-Month Low as Abe Win Secures BOJ Stimulus
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The yen fell to the lowest in more than three months after Prime Minister Shinzo Abe’s ruling coalition secured an election victory Sunday -- removing uncertainty over the country’s central bank policy. The yen dropped 0.3 percent to 113.84 per dollar as of 7:39 a.m. in Tokyo. The prime minister’s policy of Abenomics, composed of monetary easing, a flexible fiscal policy and structural reforms to spur growth has helped spur a more-than 20 percent decline in the yen since he took office in December 2012.