0727 GMT - The Japan Upper House election's outcome adds to yen uncertainty, ING strategists say in a commentary. PM Ishiba has pledged to stay on and try to arrange a trade deal with the U.S., while opposition parties might try to make "political hay" by pushing for looser fiscal policy to address cost-of-living challenges in Japan, they say, adding that these prospects weigh on JGBs ahead of the election, sounding yen-negative. There are also risks that Ishiba is replaced by someone who wants the BOJ to go slow on rate hikes. "In other words, it is not clear that the yen should be rallying today," the strategists add. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

July 21, 2025 03:27 ET (07:27 GMT)

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