The dollar rose against other big currencies on Monday, particularly the yen, which slumped after Japan’s election over the weekend.The U.S. dollar USDJPY, +1.59% rose to ¥101.93, compared with ¥100.60 late Friday in New York.
Tokyo stocks staged solid gains and the yen dropped after Prime Minister Shinzo Abe’s ruling coalition put in a strong showing in Japan’s upper house election on Sunday. The Nikkei Stock Average NIK, +3.98% 4%.
Sunday’s election results is being regarded as a green light for the Abenomics pro-growth policy.
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