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UPDATE1: Yen weakens to 9-month low in upper 154 vs. dollar
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The yen hit a nine-month low in the upper 154 range against the U.S. dollar on Wednesday, as the currency was bought on expectations that the U.S. government will reopen soon following a prolonged shutdown. In an apparent warning against the yen's depreciation, which briefly saw the currency trade at 154.79 to the dollar in Tokyo, Finance Minister Satsuki Katayama said the negative impact of the foreign exchange market moves on the economy has become "more evident" during a parliamentary committee session. The yen's recent weakness also likely reflects expectations of fiscal expansion under Prime Minister Sanae Takaichi's government, analysts said.