Japan PM Abe plans to resign due to ill health, Yen jumps
|According to the latest report by NHK, Japanese Prime Minister (PM) Shinzo Abe reportedly plans to resign due to ill health.
An official at Liberal Democratic Party (LDP), Japan’s ruling party, also reports that PM Abe plans to step down amid health issues, per Kyodo News.
Kyodo News also reported that Abe will stay on as the prime minister until a replacement is appointed.
The Japanese media outlet, Asahi Shimbun, is reporting that Abe has told people close to him that he has decided to resign from his position of Prime Minister.
Markets now await Abe’s press conference due at 0800 GMT for the official statement on his resignation.
In response, the Nikkei 225 index tumbles 2.5% while the yen spikes across the board, knocking-off USD/JPY back towards the 106 handle.
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