Yen hovered around 153; heads for 4% weekly slide

The yen hovered around 153.2 per dollar in Fridays Asian trades, near an eight-month low and set for a 4% weekly slide. The currency weakened after fiscal dove Sanae Takaichi won Japans leadership, boosting expectations of higher fiscal spending and prolonged loose policy. Her comments on preventing excessive yen depreciation did little to lift sentiment, while stronger September producer prices added to rate uncertainty. The dollar index hovered near 99, up about 2% for the week, supported by yen and euro weakness. Meanwhile, the prolonged US government shutdown, now in its ninth day, delayed key data that could influence the Feds rate outlook.

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