Yen is off to a weak start with the resignation of Japanese Prime Minister Ishiba

Yen is off to a weak start with the resignation of Japanese Prime Minister Ishiba

• USD/JPY is around 148.22, from late Friday level around 147.35

JPY is significantly weaker to open the new week's trades following the weekend resignation of Ishiba

USD/JPY is around 148.22 compared with its later Friday level around 147.35

Yen crosses are higher also.

• EUR/JPY around 173.45

Japan's Prime Minister Shigeru Ishiba announced his resignation on the weekend

• this followed growing pressure within his party to accept responsibility for a historic defeat in this year's election
• Ishiba came to power in October 2024
• Since coming to the leadership position his ruling coalition has lost its majorities in both the lower and upper houses of parliament