The US dollar continued its descent against the Japanese yen today, reaching its lowest level since mid-September.
As at 14.35 GMT, the dollar was 0.55% lower against the yen, trading around ¥1109.
It is the first time the dollar has traded below the ¥111 level since September 18.
The dollar is suffering from continued political uncertainty in Washington as Trump’s tax-cutting proposals face opposition.
There is also uncertainty around the future pace of rate tightening from the Federal Reserve, though a rate hike is widely anticipated next month.
Meanwhile, the yen is thought to be benefiting from speculation that the Bank of Japan could tighten monetary policy next year.