Yen weakens as Takaichi wins PM vote

The Japanese yen weakened past 151 per dollar on Tuesday, falling for the third straight session after Sanae Takaichi won Japan's parliamentary vote to become the country's first woman prime minister, garnering 237 votes out of the 465-seat Lower House.

Takaichi's ruling Liberal Democratic Party secured a coalition with the Japan Innovation Party, with both aiming to advance expansionary fiscal policies and spending reforms.

Still, uncertainty lingers over the coalition’s stability and whether Takaichi may pursue more hardline policies.

The alliance with Ishin could, however, support a more balanced economic and monetary approach.

Meanwhile, Bank of Japan board member Hajime Takata said Monday that the time was ripe for raising interest rates, lending some support to the yen.

Investors now turn their focus to next week’s BoJ meeting, where policymakers are widely expected to keep rates unchanged.