Yen rallies past 150 on safe-haven demand and BOJ signals

The Japanese yen climbed beyond 150 per dollar on Friday, touching its strongest level in nearly two weeks as global investors sought safety amid renewed US-China trade tensions and a prolonged US government shutdown. The dollars weakness and dovish cues from the Federal Reserve added to the yens momentum. Meanwhile, Bank of Japan Governor Kazuo Ueda signaled the possibility of a rate hike if confidence in the economy continues to strengthen, keeping markets alert ahead of this months policy meeting. Political uncertainty also played a role, with opposition parties yet to respond to the ruling Liberal Democratic Partys October 21 proposal for a new prime ministerial vote.

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