Overview

• The yen weakened into the upper ¥152-per-dollar range, with New York trading near ¥152.62–¥152.72 after Tokyo’s intraday slide.
• The Nikkei 225 swung sharply, at one point more than ¥200 higher before the morning close settled at 47,965.29, up ¥14.41.
• TOPIX rose during the session and notched a new intraday high, helped by gains in exporter shares tied to the softer currency.
• Traders described the move as the “Takaichi trade,” with equities firmer, the yen lower and rate expectations rising following her elevation to LDP leader.
• Analysts warned that a weaker currency and near 17-year-high long-term yields could lift import and mortgage costs, pressuring household finances.