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October 04, 2024
 

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YEN

Japanese currency authorities spend ¥5.5 trillion to prop up the yen against the dollar in the past month.
BUSINESS
Aug 1, 2024
Japan spent ¥5.5 trillion to prop up the yen in past month
The latest action appears to have helped reverse the tide on the yen’s weakness.
Bank of Japan Gov. Kazuo Ueda speaks during a news conference at the central bank's headquarters in Tokyo on Wednesday.
BUSINESS / Economy
Jul 31, 2024
Bank of Japan delivers one-two punch few were expecting
At its two-day policy meeting, the BOJ voted to increase its short-term policy rate target to 0.25% from a range of 0% to 0.1%.
Taro Kono, Japan's digital transformation minister, during a Bloomberg Television interview in Tokyo, during which he mentioned that the Bank of Japan to needs to introduce a rate hike to stop the weak yen trend.
BUSINESS / Economy
Jul 29, 2024
Doves in ascendancy ahead of big Bank of Japan meeting this week
The central bank will likely hold rates where they are when it meets this week, according to analysts.
Finance Minister Shunichi Suzuki speaks during a news conference at a Group of 20 finance chiefs meeting in Rio de Janeiro on Friday.
BUSINESS / Markets
Jul 27, 2024
Japan touts G20 reaffirmation of forex commitments as key achievement
The commitments say G20 nations recognize that disorderly movements in exchange rates can have adverse implications for economic and financial stability.
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.
Massive carry trade still lurks in the shadows and looms over markets
Traders borrow in currencies where rates are low and put that money to work in economies where rates are high, pocketing the difference.
17-year-old girl found dead in Osaka hotel room was strangled
A security camera footage shows a 17-year-old girl and a man entering a hotel in the city of Osaka on Saturday. She was found dead in the hotel room several hours later.
Blast from unexploded ordnance halts flights at Japanese regional airport
Unexploded ordnance detonates near a taxiway at Miyazaki Airport on Wednesday.
Ishiba looks to 'defense tribe' to fill key Cabinet positions
Defense Minister Gen Nakatani, 66, has experience as the onetime head of Japan’s former Defense Agency before it became a full-fledged ministry and is seen as a pair of steady hands.
Japan’s new prime minister moots minimum wage moon shot
Labor union members rally and call for an increase of the average minimum wage in Tokyo in July.
Who can challenge Onosato's dominance? Takerufuji might be the best bet.
Takerufuji, the most recent Emperor’s Cup winner apart from Terunofuji and Onosato, claimed the second-tier title in September in his first full tournament back from injury after a six-month absence.
Japan's new top diplomat calls 'Asian NATO' an idea for the future
Newly appointed Foreign Minister Takeshi Iwaya speaks during his first news conference as Japan's top diplomat at the Foreign Ministry in Tokyo on Wednesday.
Ishiba looks to 'defense tribe' to fill key Cabinet positions
Defense Minister Gen Nakatani, 66, has experience as the onetime head of Japan’s former Defense Agency before it became a full-fledged ministry and is seen as a pair of steady hands.
Investment and romance fraud cases triple in first eight months of year
The National Police Agency has noted a major rise in online investment fraud cases, incidents of which have more than quadrupled in the first eight months of this year.

Podcast

One of the many entrances to the Kabukicho neighborhood in Tokyo’s Shinjuku Ward.
Kabukicho: Tokyo’s ‘stadium of desire’

Longform

Wozme, founded by dancer and choreographer Wakaba Kohei, is composed of Kana Kitty, Ami Ishii, Akane Watanabe and Natsuki. Its aim is to inject elegance and beauty, traits traditionally associated with femininity, into the sometimes grotesque art form of butoh dance.
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By Zoria Petkoska

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