FOREX-Yen takes possible election date in stride

TOKYO, July 13 (Reuters) - The yen held steady against the dollar and euro after an official of Japan's ruling Liberal Democratic Party (LDP) said on Monday the prime minister was expected to call a general election for Aug. 30. Japanese media had reported earlier that Prime Minister Taro Aso could dissolve the lower house as soon as Tuesday after the ruling bloc suffered a big defeat in weekend elections in Tokyo.

"The timing is not surprising and I don't think that this will have a major impact on the market," said Takeshi Minami, chief economist at Norinchukin Research Institute.

"The market has already factored in a defeat for the LDP. The focus is on how the (opposition) Democratic Party will manage politics. Foreign investors don't have a clear idea about the Democrats."

The yen held steady near 92.50 yen per dollar JPY= and 128.80 yen per euro EURJPY=, slightly firmer on the day against the euro and broadly unchanged against the dollar.