Yen slips after Japan’s election result

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Yen slips after Japan’s election result

The yen has touched a three-month low as Japan’s ruling coalition lost its parliamentary majority and investors figured that would likely slow future interest rate hikes, while the dollar headed for a monthly gain on rising US yields.

On the dollar, the yen hit its weakest since late July at 153.3 in early-morning trade on Monday and it touched the same milestone at 165.36 to the euro.

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