What matters in U.S. and global markets today By Mike Dolan, Editor-At-Large, Finance and Markets Japan's yen strengthened on Monday as embattled Prime Minister Shigeru Ishiba vowed to stay on as leader even after his ruling coalition lost its majority in Sunday's upper house elections.

A bad night for the ruling coalition could cost the prime minister his job and make it harder to strike a deal with Washington before the August tariff deadline.

Japanese Prime Minister Shigeru Ishiba on Monday stressed the need to establish a common understanding among parties on the pros and cons of cutting the country's sales tax rate.

Exit polls suggest Prime Minister Shigeru Ishiba's coalition is likely to lose a majority its majority in the smaller of Japan’s two parliamentary houses in a key election.

The Japanese government said it is responding to "crimes and nuisances committed by some foreigners and inappropriate use of various systems."

Shigeru Ishiba of the long-governing Liberal Democratic Party could face calls to resign if his party fares poorly in Sunday’s Upper House elections.

Colin Graham of Robeco still sees the yen as 'incredibly cheap', and discusses the possibility of another occurrence of a carry trade unwind.