Yen Drops, Japanese Stocks Rally as Trump Pulls Ahead of Harris
- Currency slides by 1.6% as Trump takes key swing states
- Equities advance in Tokyo, with Nikkei 225 leading the way
Japan’s blue-chip stock gauge rallied while the yen slid to the weakest since July as Donald Trump pulled ahead of Kamala Harris in the US presidential election.
Investors see the Japanese currency as likely to weaken further as Trump emerges as the victor, because his economic policy is seen as more expansionary and inflationary than that of Harris, making it less likely for the Federal Reserve to aggressively cut interest rates.