The Japanese Yen (JPY) slumps across the board at the start of a new week in reaction to the outcome of Japan's ruling Liberal Democratic Party (LDP) leadership election, which positions Sanae Takaichi to become the first female Prime Minister.
The USD/JPY pair extends its downside to near 147.05 during the early Asian session on Thursday.
The USD/JPY pair rises to near 148.80 during the early Asian session on Thursday. The US Dollar (USD) strengthens to near its highest in three weeks against the Japanese Yen (JPY) due to a fresh round of risk aversion across the financial markets and a cautious tone from the US central bank.