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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 the U.S. government will reopen soon following a prolonged shutdown. As the yen fell to its lowest level since February, Japanese Finance Minister Satsuki Katayama said the negative impact of the currency's weakness in the foreign exchange market has become evident, in an apparent warning against its rapid depreciation. The yen's recent weakness also likely reflects expectations of fiscal expansion under Prime Minister Sanae Takaichi's government, analysts said.