Yen exchange rate today
According to Lao Dong, on October 16, the Yen (JPY) weakened after the increase in previous sessions, causing the USD/JPY pair to increase above 151.00.

Investors believe that domestic political instability could delay the Bank of Japan (BoJ)'s interest rate hike, reducing safe-haven demand for the Yen.
Japanese Yen Slightly decreased due to political instability and doubts about the BoJ's interest rate policy
According to FXStreet, in Japan, the alliance between the Liberal Democratic Party (LDP) and the Komeito Party has broken down, making it difficult for Sanae Takaichi to become the first female Prime Minister.
As a supporter of the Abenomics policy, Ms. Takaichi has a policy of public spending and monetary easing, thereby somewhat reducing concerns about Japans fiscal situation. However, the National Assembly has not yet set a time to vote for the new Prime Minister, making the policy management process more unstable.
US-China trade tensions continue to escalate as Washington expands technology restrictions, while Beijing tightens rare earth exports and the two sides impose port fees to repay each other. However, US Treasury Secretary Scott Bessent said the US could delay tax increases if China stops its plan to control strategic minerals.
In geopolitical aspects, the US warned Russia of the risk of escalating the conflict in Ukraine, increasing safe-haven demand for the Yen. Meanwhile, BoJ member Naoki Tamura said that Japan's economic growth could improve, and the BoJ should gradually bring interest rates to neutral levels - contrary to expectations that the US Federal Reserve will cut interest rates twice by the end of the year.
Investors are now waiting for the comments of Fed officials in the upcoming US session to find more policy signals, factors that can strongly affect the fluctuations of the USD/JPY pair.