Japanese yen strengthens after U.S. economic data and a new election result

The Japanese yen has been gaining strength against the U.S. dollar. This follows some disappointing U.S. economic data and a national election in Japan where Sanae Takaichi, a candidate who has previously advocated for a weaker yen, was victorious.

Financial officials from both countries are in close contact about currency movements. Meanwhile, Japanese stocks, particularly the Nikkei index, have been rising to new highs.