Yen gains ground on political jitters and softer dollar

The yen firmed to around 151 per dollar on Thursday, hitting its strongest level in over a week as uncertainty clouded the Liberal Democratic Partys leadership race after its coalition split with Komeito. Investor caution also deepened after BoJ board member Naoki Tamura warned against premature tightening, signaling continued policy support. Safe-haven inflows and a weaker dollar pressured by US-China trade tensions, the ongoing US government shutdown, and dovish Fed signals further boosted the yen. The dollar index slipped below 98.5, marking its third straight decline.

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