The Japanese Yen falls to a one-year low against the Euro.

The Japanese yen against the euro fell to a one-year low, as the market is concerned about the fiscal impact of the Japanese parliamentary elections. Richard Cochinos, a foreign exchange strategist at RBC Capital Markets, stated in a report that the latest polls suggest that the ruling coalition in Japan may lose 50% of its majority seats in the July 20th parliamentary elections, potentially leading to future tax cuts and increased fiscal stimulus, which could damage Japan's fiscal situation. The Bank of Japan may also face political pressure to delay raising interest rates. The euro against the yen (EUR/JPY) rose to a one-year high of 172.73 today.