Yen stuck near lows on talk of snap election

London

THE US dollar moved towards a recent seven-year high against the yen on Thursday, driven by speculation that Japanese Prime Minister Shinzo Abe will call a snap election in December.

Mr Abe would be likely to be returned to power with a bigger mandate, which analysts believe he would use to implement a second round of reflationary policies and possibly delay a planned hike in the sales tax.