Japanese Yen Declines After Prime Minister’s Resignation

Sana'a: The Japanese yen declined against most currencies on Monday after the resignation of Japanese Prime Minister Shigeru Ishiba on Sunday, heralding a prolonged period of political uncertainty at a time when the world's fourth-largest economy is facing a difficult period. The yen fell 0.6 percent against the dollar in Asian trading, reaching 148.25, and the Japanese currency fell to its lowest levels in more than a year against the euro and the British pound, at 173.91 and 200.33, respectively, according to the Oman News Agency. According to Yemen News Agency, across other currencies, the dollar suffered losses on the back of a weak US jobs report, which reinforced expectations of a Federal Reserve interest rate cut in September. The dollar index stabilized at 97.87 after falling more than 0.5 percent on Friday. The pound fell 0.11 percent against the dollar to $1.3492, after rising more than 0.5 percent last Friday. The euro fell 0.11 percent to $1.1709, after hitting its highest level in more than a m onth last Friday. The Australian dollar rose 0.05 percent to $0.6558, while the New Zealand dollar fell 0.03 percent to $0.5891.