Yen Slips to High ¥154 per Dollar on Hopes of Ending Partial US Agency Closures

Japan’s finance minister said the downsides of the currency’s slide are now evident.

Overview

By 5 p.m. in Tokyo on Nov. 12, the yen traded at ¥154.61–63 per dollar, weakening ¥0.43 from the previous day.
Early trading saw modest dollar selling and yen buying after a private US employment indicator suggested labor-market softness.
Later flows turned to dollar buying and yen selling on expectations that some US government agency closures will be lifted.
The euro stood around ¥179.09–13, roughly ¥0.84 weaker for the yen compared with the prior day.
Finance Minister Satsuki Katayama told the Upper House Budget Committee that the negative effects of the yen’s depreciation have become noticeable.