Yen extends gains on dollar weakness, US shutdown fears

Yen held around 147.5 per dollar on Wednesday, extending gains for a fourth straight session as improved sentiment among Japans large manufacturers lifted confidence to its strongest since Q4 2024. Support also came from a weaker dollar, pressured by the US government shutdown after lawmakers failed to agree on a short-term funding deal. The BOJs September Summary of Opinions revealed a split, with some policymakers favoring further hikes if inflation holds, while others urged caution given tariff-related risks. With the shutdown delaying key data, traders are turning to ADP private payrolls figures for clues ahead of the Feds late-October policy meeting.

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