Overview

• The yen weakened into the ¥152-per-dollar range in New York for the first time since February, marking an eight-month low.
• Against the euro, the yen slid into the ¥177 range and refreshed its all-time low versus the common currency.
• Selling intensified after Sanae Takaichi’s elevation to LDP leader, with markets expecting looser fiscal policy and delayed BOJ rate hikes that preserve wide U.S.–Japan yield differentials.
• Finance Minister Katsunobu Kato warned he will closely scrutinize excessive or disorderly currency moves, though no intervention was announced.
• Market participants expect volatility to persist until the prime minister nomination and coalition policy become clearer, as a partial U.S. government shutdown delays key data releases.