The post Japan’s Ishiba to step down after election setback — Bloomberg appeared on BitcoinEthereumNews.com. Japanese Prime Minister Shigeru Ishiba stated that he will step down, following weeks of calls for his departure in the aftermath of a second national election setback, Bloomberg reported on Sunday. Ishiba added that he would serve as prime minister until his replacement comes up. His resignation will kick off a leadership competition that may raise investor worries, and his departure is likely to fuel uncertainty among investors over the coming weeks. Additionally, Japanese media reported that the ruling party leadership election could be in early October. Market reaction At the time of writing, the USD/JPY pair is trading 0.20% lower on the day to trade at 150.45. Japanese Yen FAQs The Japanese Yen (JPY) is one of the world’s most traded currencies. Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan’s policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors. One of the Bank of Japan’s mandates is currency control, so its moves are key for the Yen. The BoJ has directly intervened in currency markets sometimes, generally to lower the value of the Yen, although it refrains from doing it often due to political concerns of its main trading partners. The BoJ ultra-loose monetary policy between 2013 and 2024 caused the Yen to depreciate against its main currency peers due to an increasing policy divergence between the Bank of Japan and other main central banks. More recently, the gradually unwinding of this ultra-loose policy has given some support to the Yen. Over the last decade, the BoJ’s stance of sticking to ultra-loose monetary policy has led to a widening policy divergence with other central banks, particularly with the US Federal Reserve. This supported a widening of the differential between the… The post Japan’s Ishiba to step down after election setback — Bloomberg appeared on BitcoinEthereumNews.com. Japanese Prime Minister Shigeru Ishiba stated that he will step down, following weeks of calls for his departure in the aftermath of a second national election setback, Bloomberg reported on Sunday. Ishiba added that he would serve as prime minister until his replacement comes up. His resignation will kick off a leadership competition that may raise investor worries, and his departure is likely to fuel uncertainty among investors over the coming weeks. Additionally, Japanese media reported that the ruling party leadership election could be in early October. Market reaction At the time of writing, the USD/JPY pair is trading 0.20% lower on the day to trade at 150.45. Japanese Yen FAQs The Japanese Yen (JPY) is one of the world’s most traded currencies. Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan’s policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors. One of the Bank of Japan’s mandates is currency control, so its moves are key for the Yen. The BoJ has directly intervened in currency markets sometimes, generally to lower the value of the Yen, although it refrains from doing it often due to political concerns of its main trading partners. The BoJ ultra-loose monetary policy between 2013 and 2024 caused the Yen to depreciate against its main currency peers due to an increasing policy divergence between the Bank of Japan and other main central banks. More recently, the gradually unwinding of this ultra-loose policy has given some support to the Yen. Over the last decade, the BoJ’s stance of sticking to ultra-loose monetary policy has led to a widening policy divergence with other central banks, particularly with the US Federal Reserve. This supported a widening of the differential between the…