Overview

• The pair traded at ¥147.18–¥147.22 at 10:00 JST and ¥147.07–¥147.09 by 17:00, a net ¥0.04 firming from the prior day.
• Lower U.S. long-term yields and stronger expectations for additional Fed cuts after softer employment signals encouraged yen buying.
• Safe-haven demand surfaced on concern over a partial U.S. government shutdown, adding to support for the currency.
• Subsequent gains in the Nikkei prompted risk-taking and yen selling, capping the session’s advance.
• BOJ Deputy Governor Shinichi Uchida’s remarks were seen as non-committal on future hikes with limited market impact, while euro–yen hovered near ¥172.6–¥172.8.