According to the latest NHK report, Japanese Prime Minister (PM) Shinzo Abe is planning to step down due to health concerns.
An official from the Liberal Democratic Party (LDP), the ruling party in Japan, also reports that Prime Minister Abe plans to step down due to health concerns, according to Kyodo News.
Japanese media outlet Asahi Shimbun also reports that Abe has told those close to him that he has decided to step down as prime minister.
Markets are now awaiting Abe’s scheduled 8:00 GMT press conference for the official statement on his resignation.
In response, the Nikkei 225 index tumbles 2.5% as the yen climbs across all levels, pushing USD / JPY back towards the 106 handle.