Yen Dips to Record Low Amid Economic Uncertainties

The yen has hit a record low against the euro and remains weak against the dollar, as Japan's prime minister prefers to slow interest rate hikes. The Australian dollar rose due to better-than-expected employment figures. Market volatility is anticipated due to delayed economic data releases following the U.S. government shutdown.

The yen experienced a sharp decline against the euro, reaching a record low, and languished near a nine-month low against the dollar. This movement follows Japanese Prime Minister Sanae Takaichi's request for the central bank to refrain from rapid interest rate hikes.

With the U.S. government shutdown recently concluding, a backlog of economic data is expected to cause volatility in currency markets. The White House confirmed that some key data might not be released, intensifying market uncertainty.

In contrast, Australia's labor market exceeded expectations, pushing the Australian dollar to a two-week high and reducing chances of a rate cut. These developments ripple through global currency exchanges, with financial analysts closely monitoring potential shifts in central bank policies.

(With inputs from agencies.)