Yen Drops as Traders See Takaichi's Chances Rising in LDP Vote.

The yen has weakened against the dollar and Japanese bond futures have risen as traders anticipate that Sanae Takaichi, Japan's economic security minister, will become the country's next leader. The currency fell by 0.5% to 145.06, and sovereign bonds rallied as investors await the results of the ruling Liberal Democratic Party's vote. Takaichi, who has argued against raising interest rates, could potentially become Japan's first female prime minister. Options traders have priced in a 35% chance of Takaichi winning the election. [Extracted from the article]