- Japanese Prime Minister Shinzo Abe yesterday called for an early election and postponed a planned sales tax increase in 2105. This drove the yen down and pushed the yen towards seven-year lows against the US dollar. The yen has had a disastrous month, falling 7.5%, making it the worst performer out of all major currencies. Abe has called for snap elections to take place next month to seek a fresh mandate for his economic policies.
- The Swedish krona rose against almost all of its major peers on Tuesday as Stefan Ingves, Governor of Riksbank, stated that currency market intervention is not a measure the central bank is considering. The krona rose 1% to 7.3638 per dollar.
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