TOKYO — The election of Shigeru Ishiba as Japan's next prime minister has boosted the yen over the past few days, but signs point to further weakening of the currency if international investors decide to dump their yen reserves into the market.
The yen was in the 146 range to the dollar on Friday before the ruling Liberal Democratic Party elected Ishiba as the party's new president. The currency strengthened over the weekend and reached the 141 yen area on Monday.