Yen Underperforms G-10 Peers as Investors Weigh Takaichi Speech

The yen extended declines on Friday, underperforming its Group-of-10 peers, as Japan’s new leader told the nation’s parliament she would pursue expansive fiscal policy that was strategic and responsible.

The currency slid as much as 0.3% against the dollar, briefly breaking through the 153 level, as Prime Minister Sanae Takaichi pledged to prioritize tackling a cost-of-living crunch and bolstering defense. The yen has lost about 1.5% this week, more than double the amount of any other currency in the G-10 basket.