Japan’s ruling LDP won 1 seat and lost 1 seat in Sunday’s Diet by-elections

<p>There were two by-elections in Japan on Sunday:</p><ul><li>one for a lower house seat</li><li>one for an upper house seat</li></ul><p>the ruling Liberal Democratic Party won the lower house (House of Representatives) seat but lost in the House of Councillors poll, whiohc was taken by an opposition-backed independent candidate.</p><p>The LDP had hoped to retain the two seats. However, approval ratings for Kishida's Cabinet have plunged to their lowest levels since he assumed power in October 2021.</p><p>The by-elections were the first national contests since Kishida revamped his Cabinet in mid-September in a bid to refresh the image of his government.
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There had been speculation that Kishida would dissolve the lower house and call a general election by the end of this year if the LDP won both seats. But the consequences of Sunday's polls make that more difficult, people close to him said.</p><p>Japan PM Kishida</p><p>-</p><p>USD/JPY is circa 149.80, not a lot changed on the date. </p><p>Earlier:</p><ul><li><a href="https://www.forexlive.com/news/very-early-asian-trade-took-usdjpy-briefly-above-15010-20231022/" target="_blank" rel="follow" data-article-link="true">Very early Asian trade took USD/JPY briefly above 150.10</a></li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.