Yen rises on Shinzo Abe’s resignation, dollar drops

Reuters, LONDON As news that Japanese Prime Minister Shinzo Abe would resign pushed the yen higher on Friday, the US dollar fell heavily against most major currencies — weighed down by the prospect of long-term lower US interest rates. Japanese stocks fell and the safe-haven yen erased some recent losses overnight when it was reported that Abe, the nation’s longest serving prime minister, would step down due to worsening health. The yen, which had fallen to a two-week low of ￥106.945 per US dollar,...