The Japanese yen traded around 151.7 per dollar on Wednesday after a sharp fall in the previous session following the election of Sanae Takaichi as prime minister. Markets expect the new leader to pursue an expansionary fiscal policy including higher government spending and possible consumption tax cuts. The Bank of Japan is also seen taking a cautious approach to further rate hikes, with analysts pushing back forecasts for the next increase to early next year. Meanwhile, Japan's new Finance Minister Satsuki Katayama is known for backing a stronger currency. On the economic front, Japan unexpectedly recorded a trade surplus in September as exports rose 4.2% and imports climbed 3.3%, suggesting some relief from US tariff pressures.