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November 11, 2025
 

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YEN

The yen-dollar exchange rate is displayed outside a securities firm in Tokyo on Oct. 27. The yen slid about 4% against the dollar in October.
BUSINESS / Economy
Nov 4, 2025
Goldman and BofA see no immediate intervention risk as yen nears 155
The yen weakened further after BOJ held rates steady last week, with little guidance offered on future hikes.
Finance Minister Satsuki Katayama issued her first clear warning on currency moves in noting the government is monitoring the yen with a strong sense of urgency.
BUSINESS / Economy
Oct 31, 2025
Japan’s Katayama warns on FX as yen hits eight-month low
The yen traded around an eight-month low after the Bank of Japan left interest rates unchanged, with markets unconvinced by Gov. Kazuo Ueda offering hints a rate hike is coming.
Less than a week ago, Sanae Takaichi seemed set to become Japan's first female prime minister.
BUSINESS / Markets
Oct 10, 2025
‘Takaichi trade’ starts unwinding as political calculus upended by Komeito exit
Stocks fell and the yen rose after the coalition collapsed
Despite heightened geopolitical tensions and escalating trade wars, the U.S. dollar’s global dominance is unlikely to fade in the near term, leaving Asian economies vulnerable to dollar shocks.
COMMENTARY / World
Oct 10, 2025
How Asia can reduce its dollar dependence
While geopolitical tensions and the risk of sanctions have fueled diversification efforts, the greenback’s international dominance is unlikely to diminish in the near term.
For decades, investors have turned to the yen during market shocks, but that instinct is now under strain.
BUSINESS / Markets
Oct 9, 2025
Yen’s haven status undercut by gold surge and BOJ rate-hike doubts
For decades, investors have turned to the yen during market shocks, from financial crises to geopolitical blowups.
Against the yen, the dollar was last up 0.53% at ¥152.7. It earlier reached ¥152.99, the highest since Feb. 14, and has risen from ¥147.44 on Friday.
BUSINESS / Economy
Oct 9, 2025
Yen weakest since mid-February on fiscal fears
The dollar has likely benefited from a lack of U.S. government economic data as the federal government remains shut.
Sanae Takaichi, newly elected leader of the Liberal Democratic Party, speaks during a news conference at the party's headquarters in Tokyo on Saturday.
BUSINESS / Markets
Oct 5, 2025
Takaichi's win to support Japanese stocks but weigh on yen and bonds
Bank stocks will likely struggle on expectations rate hikes will be pushed back, while domestic demand and small-cap shares may get a "significant tailwind," experts say.
James Baker speaks at the funeral service for former U.S. President George Bush in Houston in December 2018. As Treasury secretary in 1985, he was the key U.S. negotiator of the Plaza Accord, the landmark deal to weaken the dollar and realign global currencies.
COMMENTARY / Japan
Sep 22, 2025
Why the Plaza Accord is still the gold standard
Rather than grieve Plaza, salute it. The deal reflected a confluence of national interest, diplomatic nous and a sense that common interests dictated collaboration.
The Plaza Hotel in New York, where finance ministers and central bank chiefs from the Group of Five countries met and struck the Plaza Accord on Sept. 22, 1985.
BUSINESS / Economy
Sep 21, 2025
40 years after Plaza Accord, Japan still at mercy of forex swings
Monday marks the 40th anniversary of the accord, struck between Japan, the U.S., the U.K., France and what was then West Germany.
U.S. Treasury Secretary Scott Bessent and Japanese Finance Minister Katsunobu Kato reaffirmed in a joint statement their commitment to allowing markets to determine currency exchange rates and not targeting them for competitive advantage.
BUSINESS / Economy
Sep 12, 2025
U.S. and Japan pledge not to manipulate forex for competitive advantage
Tokyo has spent close to $150 billion in the last three years trying to prop up the yen with the last move in July last year.
Bank of Japan Gov. Kazuo Ueda
BUSINESS / Economy
Sep 3, 2025
Ishiba meets with BOJ's Ueda to discuss economy and markets
The pair’s first meeting since February suggests Ishiba is trying to show market participants that his government and the BOJ will be coordinating closely.
Mazda Motor posted a consolidated net loss of ¥42.1 billion ($286 million) for the three months to June, its first loss in the fiscal first quarter since 2020.
BUSINESS / Companies
Aug 6, 2025
Mazda swings to net loss in April-June
The automaker posted a consolidated net loss of ¥42.1 billion for the period as a result of steep U.S. tariffs and a stronger yen.
Finance Minister Katsunobu Kato
BUSINESS / Economy
Aug 1, 2025
Japan’s Kato voices concern with yen at weakest since March
Kato’s comments came after the yen slid past the 150 level against the dollar on Thursday, following the BOJ’s decision to leave interest rates unchanged.
Prime Minister Shigeru Ishiba, also president of the ruling Liberal Democratic Party, speaks to reporters at the party's headquarters in Tokyo on Monday. The party’s loss in the July 20 Upper House election has become the defining factor for the yen.
BUSINESS / Markets
Jul 30, 2025
Yen option traders brace for more weakness ahead of BOJ decision
Analysts warn that Prime Minister Shigeru Ishiba may resort to populist spending to shore up support for his weakened coalition.
The University of Tokyo. International students are increasingly flocking to Asia, with affordability being a particularly important metric.
JAPAN / Society
Jul 25, 2025
Tokyo is the No. 2 choice for international students
Amid rising costs of living, affordability is a key factor for students when deciding where to study abroad.
A lack of clarity around fiscal and economic policies is likely to dim the global appeal of Japanese assets, analysts say.
BUSINESS / Markets
Jul 22, 2025
Japanese bonds remain vulnerable as unpopular Ishiba holds on
Benchmark 10-year bonds fell only slightly as trading resumed in Tokyo, pushing yields up by 1.5 basis points.
Trading volumes in dollar-yen call options, which gain in value if the yen depreciates against the dollar, more than doubled those of put options on July 11.
BUSINESS / Markets
Jul 14, 2025
Yen traders revamp option bets ahead of Japan election
Expectations that the election outcome may pave the way for additional fiscal stimulus have already started to drive long-term Japanese yields higher.
The yen-dollar exchange rate is displayed outside a securities firm in Tokyo on Tuesday.
BUSINESS / Economy
Jul 10, 2025
Japan unlikely to face U.S. pressure to strengthen yen, ex-top FX diplomat says
Masatsugu Asakawa was deeply involved in Japan's trade and currency negotiations with the U.S. when he was vice finance minister for international affairs.
Data compiled by the Japan Department Stores Association shows that tax-free inbound sales at over 80 department stores across the country fell by 41% in May from a year earlier.
BUSINESS / Economy
Jul 3, 2025
Japan’s department store shares lag as tourist splurge slows
Tax-free inbound sales at over 80 department stores across the country fell by 41% in May from a year earlier.
Bank of Japan Gov. Kazuo Ueda announces the start of the circulation of new banknotes on July 3, 2024.
BUSINESS
Jun 30, 2025
Japan’s new banknotes see slow adoption one year after launch
Roughly 5 billion new banknotes were in circulation as of the end of May, accounting for just 28.8% of all notes in use.
Tsunami threat passes following magnitude 6.9 quake off Iwate
A tsunami advisory was issued for Iwate Prefecture on Sunday evening following a strong earthquake. The advisory was later called off, after waves measuring 20 centimeters were recorded in some areas.
Japan to subsidize demolition of abandoned inns
Abandoned Japanese-style inns in the Kinugawa hot springs resort in Nikko, Tochigi Prefecture, in March 2023
Japan’s bears have been on their killing spree for more than 100 years
Bear attacks have dominated Japanese news headlines in recent months, with 13 people so far having been killed by the animals.
Takaichi stands firm on controversial Taiwan contingency remarks
Prime Minister Sanae Takaichi responds to questions during a session of the House of Representatives' Budget Committee in parliament in Tokyo on Monday.
From France to Mali, a deportee's struggle far from home
Moussa Sacko, a Malian deported from France — where he had lived since he was a young child — stands on a street in Bamako, Mali, in December. Compared with his home in France, Bamako feels like a different planet, Sacko said.
Florist Nicolai Bergmann flourishes outside the box
Florist Nicolai Bergmann shops for fresh flowers at the Ota flower market in Tokyo on Friday.
Jenson Button brings end to an illustrious racing career intertwined with Japan
Jenson Button races for Honda during the Singapore Grand Prix in September 2008.
Cleanliness gets competitive at Tokyo’s Spogomi world cup
On Oct. 29, teams from 33 qualifying countries scoured the streets of Shibuya for all manners of trash as part of the Spogomi litter-picking competition.
Jon Homewood: ‘There’s beauty in what we throw away’
After a peripatetic childhood around the world, teacher and artist Jon Homewood ended up coming to Japan in 2012 for a professional opportunity.
High-speed rail is expensive and difficult, but seen as a key to growth
Achal Khare, former managing director at India’s National High Speed Rail Corporation, gives a presentation during the IHRA Forum 2025 in Tokyo on Oct. 23.

Podcast

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

Longform

Bear attacks have dominated Japanese news headlines in recent months, with 13 people so far having been killed by the animals.
Japan’s bears have been on their killing spree for more than 100 years
By Yukana Inoue

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