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According to the latest opinion polls conducted over the weekend, former Japanese Defense Minister Shigeru Ishiba leads the race to be the next Prime Minister. PM Shinzo Abe resigned abruptly last Friday due to worsening health issues.

Key findings

“Kyodo News Survey showed that Ishiba has about 34% of the public’s support, more than double the 14% for Chief Cabinet Secretary Yoshihide Suga, the second most popular choice.”

“A Nikkei/TV Tokyo poll showed Ishiba with 28% support, followed by current Defence Minister Taro Kono with 15%. Suga came in fourth place with 11%.”

Japan’s public broadcaster, NHK, said that the Liberal Democratic Party leadership election is likely to take place around Sept. 13 to 15.

USD/JPY stabilizes around mid-105s

After the sharp sell-off seen on Friday, USD/JPY has stabilized around mid-105s. The spot hit a daily high of 105.80 and a low of 105.30. The risk-on rally in the Asian equities is boding well for the major.

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