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Shigeru Ishiba, Japan’s former Defence Minister, will run in the ruling Liberal Democratic Party (LDP) election, Reuters reported on Monday, citing Asahi Shimbun newspaper.

Earlier in the day, several news outlets reported that Japanese Chief Cabinet Secretary Yoshihide Suga also indicated that he would stand for the LDP leadership election.

Market reaction

This headline doesn’t seem to be having a significant impact on the JPY’s performance against its rivals. As of writing, the USD/JPY pair was trading at 105.95, gaining 0.58% on a daily basis. 

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