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Yen sustains gains on upper house election outcome
LISA KIM and JADA NAGUMO
TOKYO -- The Japanese yen continued to trade stronger against the dollar on Tuesday morning as the ruling coalition's loss in an upper house election over the weekend was within investor expectations.
The currency traded in the mid-147 level, sustaining the roughly 1% appreciation it notched the previous day, which was a holiday in Japan. The yields on the benchmark 10-year Japanese government bond (JGB) hit 1.535% at one point on Tuesday, a basis point higher from Friday's closing. Yields move inversely to prices.
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