Japanese yen falls as political uncertainty continues to weigh on sentiment

There's a report doing the rounds that a lawmaker in Japan's ruling LDP party has collected enough signatures to request the convening of a joint meeting of both houses of the National Diet. However, it is unclear as to what exactly this is for. Is it to do with trying to oust Ishiba? One would think that such a motion will take place instead during the internal party meeting next week on 31 July.

But either way, it seems to be stirring up plenty of emotions and sentiment in the market right now. The Japanese yen has fallen, with USD/JPY moving back up to test its 200-hour moving average (blue line) on the day.