Japan’s LDP leadership candidates to hold a debate on September 12

Japan’s ruling Liberal Democratic Party (LDP) official said that the candidates for the leadership race are likely to hold a public debate at the Japan press club on Sept 12, per Reuters.

Earlier on in the day, Bloomberg reported that the Japanese Chief Cabinet Secretary Yoshihide Suga is “the man all but assured to succeed ailing Prime Minister Shinzo Abe as premier later this month,” as he has little experience in foreign policy.

However, it’s worth noting that Suga was the top choice among the three declared contenders in an Asahi newspaper poll released late Thursday, with 38% of respondents saying he is the most suitable choice.

Market reaction

USD/JPY is looking to regain the bid tone while trading near-daily highs of 106.23, having reversed a quick dip to 106.07 lows.

The bulls are struggling amid the risk-off action in the Asian equities following the Wall Street tumble overnight.