August 30, 2009. The first ever defeat of Liberal Democratic Party since its establishment in 1955 by DPJ , ending its 50 year one party rule in the worlds 2nd largest economy, has sparked fuel to the sentiments of traders, speculators, Investors all over the world to take refuge in the Japanese currency “Yen” when markets will open on Monday morning in Japan.
Many Investors have already instructed their respective brokers to monitor the market at opening of Japan’s Market and some have already decided to place their MOO ( Market on open ) orders in Japanese currency, Yen, on the basis that DJP’s pledge to give more autonomy to Bank of Japan, which may decide to increase the current interest rate. Yen was seen closed at $ 93.56 on last trading day.
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