“LONDON (Reuters) – A win by Japan’s conservative Liberal Democratic Party lifted the dollar to a 20-month high against the yen on Monday, while uncertainty over the prospects for a U.S. budget deal sent European shares lower.
U.S. stock index futures pointed to mixed open on Wall Street where tech giant Apple’s shares will be in the spotlight because of sharp falls in pre-market trade after Citigroup cut its rating for the stock. <.n>
The biggest moves of the day came in the currency market following a landslide election victory for Japan’s LDP on Sunday which opened the way for a shift in economic strategy designed to lift the world’s third largest economy out of recession.
The triumph was seen as piling pressure on the Bank of Japan to ease further at its next policy meeting, which ends on Thursday, setting the stage for an even bigger fall in the yen.”
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