Yen slips as Tokyo stocks jump

London

THE yen fell by well over one per cent against the US dollar on Monday as Japan's stocks jumped, after the country's ruling coalition won a landslide victory in upper house elections, boosting hopes for more monetary stimulus.

The greenback had already been given a lift by a bumper US jobs report on Friday, which saw investors price back in the chance of an increase in interest rates by the Federal Reserve before the end of the year.