Yen finds some support after Japanese administration steps up intervention to stop currency slide. However, yen remains near 10-month low and is expected to post 1.5% weekly loss. Fiscal concerns over Prime Minister Takaichi's massive stimulus package remain a major pressure.
Tokyo approves 21.3 trillion yen stimulus package, while analysts warn that FX intervention risks are increasing and are expected to be temporary. Yen also remains near historic lows against euro.
US dollar is on track for biggest weekly gain in six weeks as markets remain divided on possibility of Fed rate cut in December. Delayed US jobs report gives mixed reading, but dovish remarks from New York Fed President John Williams increase bets on rate cut.
Euro and pound fall for the week, while Aussie and Kiwi steady after falling in risk aversion sentiment. US dollar index nears 5-1/2-month high.
In the crypto market, Bitcoin continues to be under pressure and hits a seven-month low, in line with global risk aversion that is weighing on speculative assets.
