Former Japanese Defense Minister Shigeru Ishiba is leading the race to become the next prime minister, according to the latest opinion polls over the weekend. Prime Minister Shinzo Abe abruptly resigned last Friday due to worsening health problems.
“The Kyodo News poll showed Ishiba has about 34% of public 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 Defense Minister Taro Kono with 15%. Suga came in fourth place with 11%. “
Japanese public broadcaster NHK has said the Liberal Democratic Party leadership election is expected to take place around September. 13 to 15.
USD / JPY stabilizes around mid-105s
After the strong selloff on Friday, the USD / JPY stabilized in the mid-105s. The spot hit a daily high of 105.80 and a low of 105.30. The recovery in risk on Asian equities bodes well for the major.