(Reuters) – Japanese traders bought abroad belongings for a 3rd straight week via Oct. 26, cashing in on the yen’s sharp decline amid U.S. election uncertainties and diminished expectations of huge Federal Reserve price cuts.

Based on the Ministry of Finance knowledge, Japanese traders bought international shares and long-term bonds value a web 397.6 billion yen and 889.6 billion yen ($5.81 billion), respectively, posting their third straight weekly web gross sales in each segments. They, nonetheless, added a web 116.5 billion yen value of short-term payments.

Whereas the yen rallied within the September quarter, prompting Japanese traders to amass international belongings, it has misplaced about 6.4% in opposition to the greenback this month, creating profit-taking alternatives for Japanese market members.

The yen reached a three-month low this week after the ruling coalition misplaced its parliamentary majority, and is on monitor for its seventh sharpest month-to-month decline ever and the biggest since November 2016.

Final quarter, Japanese traders purchased roughly 2.02 trillion yen in shares and 5.11 trillion yen in long-term bonds. Nevertheless, they’ve bought round 667 billion yen in equities and 1.19 trillion yen in long-term debt securities to date this month.

In parallel, international web purchases of Japanese shares fell to a five-week low of 8 billion yen final week, as traders exercised warning because of the election in Japan.

Foreigners, in the meantime, snapped up a web 277.9 billion yen value of long-term Japanese bonds, registering their fourth weekly web buy in 5. They, nonetheless, bought 682.6 billion yen value of short-term devices.

($1 = 153.0900 yen)