The Japanese yen slipped beyond 154 per dollar on Friday, heading for a monthly loss of over 4% as markets reacted to the election of Prime Minister Sanae Takaichi, known for her support of expansionary fiscal policies and loose monetary stance. The Bank of Japan also kept rates steady this month, with Governor Kazuo Ueda warning that global trade frictions could weigh on growth and corporate earnings. Tokyos core inflation data came in hotter than expected for October, complicating the policy outlook. Meanwhile, the US dollar strengthened, supported by fading expectations of further Federal Reserve rate cuts. The dollar index hovered near three-month highs around 99.3, up almost 2% for the month, after the Feds quarter-point cut on Wednesday and Powells cautious tone on future easing.
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