The yen edged lower on Friday as it pulled back from its steepest weekly climb in over four months. Traders are scrutinizing the potential implications of the Bank of Japan's rate increases and are also closely watching this weekend's leadership election.

BOJ Governor Kazuo Ueda reiterated the likelihood of continuing interest rate hikes if the economy and prices progress as anticipated. Attention is also riveted on the Liberal Democratic Party's leadership election, set to determine Japan's next prime minister. Meanwhile, despite a U.S. government closure ceasing economic data releases, such as the anticipated September jobs report, the dollar saw a rebound overnight.

Within the market context, the yen fell 0.2% to 147.52 per dollar, though it remains on course for a substantial 1.3% we

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