Yen eases; Japan leadership vote in focus

Japanese Yen eased to around 147.5 per dollar on Friday as investors awaited the ruling Liberal Democratic Partys leadership vote, which will decide Japans next prime minister and policy direction. The contest comes amid rising economic worries. Uncertainty also lingers over the Bank of Japans next rate hike, while the dollar index steadied near 97.5 after a volatile week and the US shutdown delayed September payrolls data. Economic signals remained mixed, as the jobless rate rose to 2.6% in August, the highest in 13 months, while uncertainty persists over the timing of further Bank of Japan rate hikes. Globally, the dollar index steadied near 97.5 after a turbulent week, with the US shutdown delaying the release of September payrolls data.

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