Shinzo Abe confirms his resignation as Japanese prime minister
- My health started declining around the middle of last month
- Decided to step down due to illness and treatment procedures
- This was a very hard decision to make
- I should not be prime minister if I can't do my best
- Apologises for quitting the post during the coronavirus pandemic
It is the end of an era for Japanese politics as Abe officially announces his resignation. He also says that he will stay in the post as prime minister until a successor has been appointed. For those wondering, Abe is suffering from ulcerative colitis.
The reaction in the market has largely been baked in earlier today, with the news mostly just impacting Japanese assets for the most part. USD/JPY is keeping near session lows close to 106.00 currently as the dollar is also weaker on the day.