Fujii steps down; Kan seen as possible successor

Nikkei reports that Japanese FinMin Fujii’s resignation has been accepted. The names of Deputy PM Kan as well as DPJ officials Sengyko and Noda have been floated as possible successors.

My money is on Kan, who has been actively involved in financial and exchange rate matters since taking office.

USD/JPY has steadied around 91.60 after a dip as low as 91.26.