The Japanese yen on Tuesday slimmed down against the world's reserve currency as speculation increased that political leaders in the U.S. will be able to fulfill successful discourse on pressing economic and financial issues presently plaguing the nation, Bloomberg reports.
The monetary unit of the Pacific Rim nation dropped after rising to its top value in eight weeks, spurred to that level, after the current-account surplus of Japan unexpectedly dropped to its record low for the month of August.
The U.S., host of the globe's largest economy, is in its second week of a partial government shutdown as political leaders feud over budgetary issues. Next Thursday marks the deadline for the U.S. to meet its deadline about raising the debt ceiling.
The Japanese yen slumped about 0.5 percent against the greenback after marking its highest rate since August 12 against its rival. The currency drooped about 0.3 percent against the common currency of the European Union on Tuesday.
High-level officials with the U.S. and Japan did not share an emergency telephone conversation about stalled political discussions in the U.S., an anonymous Japanese official told Reuters. A published report noted officials has shared that conversation.
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