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Japanese Chief Cabinet Secretary Yoshihide Suga indicated that he would stand for the Liberal Democratic Party’s (LDP) leadership election, the Nikkei Asian Review and Reuters both reported, citing sources familiar with the matter.

Earlier today, Jiji news reported that the LDP decided to hold leadership vote on September 14.

The media opinion polls showed that Suga remains the second-most popular contender to succeed Prime Minister (PM) Shinzo Abe. Former Defense Minister Shigeru Ishiba is the top favorite.

USD/JPY looks to 106.00

Amid receding worries over the Japanese political scenario, the yen is giving up its previous gains, with USD/JPY rising 0.52% to flirt near-daily highs of 105.92.

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