SYDNEY Dec 17 The yen fell to its lowest level
in over a year-and-a half against the U.S. dollar on Monday as
part of a broad skid after Japan's conservative LDP party,
pledged to hyper-easy monetary policy, won a landslide victory
at an election.
The dollar rose as far as 84.48 yen, reaching its
highest since April 2011, from around 83.50 late in New York on
Friday. The euro jumped to around 111.30 yen from
The higher-yielding Australian dollar climbed
above 89.00 yen for the first time since May 2011.
Japan's conservative Liberal Democratic Party (LDP) surged
back to power in an election on Sunday just three years, giving
ex-Prime Minister Shinzo Abe a chance to push his radical
Abe has called for "unlimited" monetary easing and big
spending on public works to rescue the economy from its fourth
recession since 2000.
The Bank of Japan meets later this week and analysts expect
the central bank will ease policy further to support an economy
already in recession.