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July 27, 2024
 

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YEN

Some investors are warning that a yen rally is fragile, as was on show this week when the yen rapidly retraced an advance after Thursday’s stronger-than-expected U.S. economic growth figures.
BUSINESS / Markets
Jul 27, 2024
‘Crazy’ yen rally is at risk of shattering as soon as Wednesday
Swaps markets suggest a roughly 45% chance of the Bank of Japan hiking rates by 15 basis points at the conclusion of its July 31 policy meeting.
Japanese stocks are down 10% from their July peak as the yen strengthens.
BUSINESS / Markets
Jul 26, 2024
Yen melt-up nudges Japanese stocks into correction territory
Japan’s benchmark index is now down 10% from its July peak, meeting the textbook definition of a market correction.
Core inflation in Japan's capital accelerated for a third straight month in July, keeping alive market expectations of a near-term interest rate hike by the central bank.
BUSINESS / Economy
Jul 26, 2024
Tokyo inflation quickens, keeping BOJ hike option in play
Consumer prices excluding fresh food rose 2.2% in the capital, versus 2.1% in June, the internal affairs ministry reported.
Former U.S. President and 2024 Republican presidential candidate Donald Trump speaks during a campaign rally at the Bojangles Coliseum in Charlotte, North Carolina, on Wednesday.
BUSINESS / Economy
Jul 26, 2024
Trump wants a weaker dollar, but Wall Street doubts he’ll get one
Donald Trump has completely overhauled the Republican Party in his populist image and named a fellow strong-dollar skeptic as his running mate.
The Nikkei stock index fell to a three-month low on Thursday.
BUSINESS / Markets
Jul 25, 2024
Nikkei closes at 3-month low as yen strengthens
The 225-issue average fell 3.28% to end the day at 37,869.51, its lowest close since April 25.
The yen strengthened Wednesday to break the psychological threshold of ¥155 against the dollar, with technical indicators suggesting the momentum can continue.
BUSINESS / Markets
Jul 24, 2024
Yen extends advance as unwinding of global carry trades ramps up
Investors are betting on more rate hikes in Japan and the chance of further intervention by authorities to prop up the Japanese currency.
Some economists say a sticky weak yen trend would have a negative impact on Japan's real wage growth.
BUSINESS / Economy
Jul 24, 2024
Yen rally could help end crushing wage decay in Japan
The Japan Research Institute anticipates real wage growth turning positive in the July-September quarter assuming ¥155 to the dollar.
Nidec separately announced it signed a memorandum of understanding on Monday with Tata Elxsi, an Indian technology service provider, to develop software programs for India and other markets.
BUSINESS / Tech
Jul 23, 2024
Japan's Nidec lifts annual profit outlook after first quarter
The company raised its expectations for operating profit in the financial year to the end of March 2025 to ¥240 billion ($1.53 billion).
Liberal Democratic Party Secretary-General Toshimitsu Motegi says the Bank of Japan should more clearly show its intention to normalize monetary policy.
BUSINESS / Economy
Jul 23, 2024
LDP heavyweight Toshimitsu Motegi calls for clearer sign from BOJ on policy
The remarks suggest growing political frustration over the central bank’s cautious stance as low rates keep pressure on the yen while inflation outpaces wage growth.
The exchange rate for the Japanese yen against the euro (left) and the U.S. dollar is displayed at a foreign exchange brokerage in Tokyo on June 27.
BUSINESS / Markets
Jul 23, 2024
Citi flags possible euro-yen intervention if rate nears ¥180 level
The euro-yen pair traded as high as ¥175.43 on July 11 — a record since the common currency was launched in 1999 — before retreating.
Leveraged funds reduced net short positions on the yen the most since March 2011 during the week to July 16.
BUSINESS / Markets
Jul 22, 2024
Hedge funds slash short yen bets by most in more than a decade
Hedge funds pared bets against the yen in spectacular fashion after a suspected double-whammy market intervention from Japanese authorities.
Unfortunately, the Bank of Japan kept monetary policy too tight after the 1985 Plaza Accord, leaving Japan mired in deflation and recession for two decades. 
COMMENTARY / World
Jul 21, 2024
Does the world need a Plaza Accord 2.0?
Unfortunately, the Bank of Japan kept monetary policy too tight after 1985 Plaza Accord and Japan was mired in deflation and recession for two decades.
The Nishiki market in Kyoto. June’s inflation report shows extraordinary jumps in the prices of some items favored by households, including cabbage (27.6%), potatoes (28.5%) and tomatoes (15.6%).
BUSINESS / Economy
Jul 19, 2024
Households struggle as Japan’s inflation rises near U.S. levels
Consumer prices in Japan rose 2.8% on the year in June, close to the 3.0% in the United States.
Japan cut its economic growth forecast for the current fiscal year, reflecting weaker-than-expected private consumption.
BUSINESS / Economy
Jul 19, 2024
Japan cuts growth forecast as prime minister warns of weak-yen pain
The government cut its economic growth forecast for the current fiscal year ending in March 2025 to 0.9% from 1.3% projected in January.
The government is considering introducing a new preclearance system for foreign visitors, starting with tourists from Taiwan, to help shorten the time taken for entry procedures on arrival.
JAPAN
Jul 19, 2024
Japan to speed up entry process as tourist wave hits new record
The government will introduce a new preclearance system from January, starting with tourists from Taiwan, NHK has reported.
More Japanese firms have gone bankrupt in the first half of this year due to soaring costs, labor shortages and the end of pandemic-related support.
BUSINESS / Economy
Jul 18, 2024
Triple whammy takes Japan bankruptcies to decade high
Soaring costs, labor shortages and the end of pandemic-related financial support are taking a heavy toll on smaller businesses.
Visitors take photos of a tunnel of roses at Yokohama English Garden on Wednesday in Yokohama.
JAPAN / Society
Jul 18, 2024
Japan’s summer travel spending soars despite economic pressures
Households plan to spend the most in six years this summer as more people aim to travel despite rising inflation and a weakening yen.
The yen rose to the ¥155 range against the dollar, the highest in almost two months, in Tokyo on Thursday.
BUSINESS / Markets
Jul 18, 2024
Yen rally shakes markets, sending dollar to weakest level since May
There is ongoing speculation that authorities could intervene again to prop up the yen.
Unionists hold a rally in Tokyo in April. Households' real cash earnings have been falling year on year for more than two years, with the weakening of the yen making the situation only more difficult as prices of imported goods increase rapidly.
BUSINESS / Economy
Jul 17, 2024
Japan’s minimum wage might not budge much if corporate fears prevail
While households desperately need a big raise, smaller businesses might not be in a position to handle an increase as they struggle with the weak yen.
Taro Kono, Japan's digital transformation minister, speaks during an interview in Tokyo on Wednesday.
BUSINESS
Jul 17, 2024
Taro Kono says central bank needs to raise rates to lift yen
Kono’s remarks could add to pressure on the Bank of Japan’s policy board to raise interest rates when it meets at the end of this month.
Japan's population continues to fall even as foreign resident count rises
The number of residents in Tokyo as of Jan. 1 rose by 0.03% from a year before, data shows, marking a year-on-year increase for the first time in three years, while the country's other 46 prefectures saw their populations continue to decline.
Japan’s minimum wage set for record ¥50 hike in major boost
Demonstrators rally to demand a big hike in minimum wages in Tokyo last week.
One dead, three missing as heavy rain batters Tohoku
Camera footage shows the Mogami River bursting its banks in Tozawa, Yamagata Prefecture, on Friday morning.
Yen melt-up nudges Japanese stocks into correction territory
Japanese stocks are down 10% from their July peak as the yen strengthens.
Yen rally could help end crushing wage decay in Japan
Some economists say a sticky weak yen trend would have a negative impact on Japan's real wage growth.
When did summer in Japan stop being fun?
Summer in Japan is now consistently brutal enough to drive you indoors and keep you there until autumn.
Japan’s minimum wage set for record ¥50 hike in major boost
Demonstrators rally to demand a big hike in minimum wages in Tokyo last week.
Japan loses top spot on strongest passport list to Singapore
Japan had the strongest passport for six years running from 2018, before being dethroned by Singapore on the 2024 list.
Why Japan's mysterious stash of classified funds escapes scrutiny
Prime Minister Fumio Kishida and Chief Cabinet Secretary Yoshimasa Hayashi (right) during a meeting in Tokyo on Tuesday.
Japan eyes gold — and the future — as Olympic men's soccer campaign begins
Japan midfielder Yu Hirakawa controls the ball during a match against the United States in Kansas City, Kansas, on June 11.

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