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 speculate that Sanae Takaichi, Japan's economic security minister, has an increasing chance of becoming the country's next leader. The currency declined by 0.8% to 145.93, and sovereign bonds rallied as investors await the results of the ruling Liberal Democratic Party's vote. Takaichi, who could potentially become Japan's first female prime minister, has argued against raising rates and has gained support from former prime minister Taro Aso. Options traders have priced in a 35% chance of Takaichi winning the election. [Extracted from the article]