Kyodo reports that Seiji Maehara will run for head of the ruling Democratic Party of Japan. If elected, he would replace sitting PM Kan, who has long been expected to step down after the mismanagement of the Fukishima disaster. .

Maehara is a former foreign and transport minister.

No word on who he would appoint as FinMin. Undoubtedly that person would watch USD/JPY rates very, very closely.

;)