Crude prices experienced their largest single-day decline in over two years, reflecting broader market uncertainty in anticipation of significant upcoming events.
Participants seemed to spend the bulk of Monday digesting the weekend's events, which provided ample material for analysis and cautious trading.
The ruling coalition in Japan lost their parliamentary majority, raising questions about the duration and outcome of coalition negotiations, impacting market sentiment.
The weakness of the JPY and uncertainty in Japan's political landscape are likely to delay any immediate tightening of monetary policy by the BoJ.
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