Japan, tariff and Asian shares
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Tokyo inflation eases but remains above target, keeping BoJ rate hikes on the table as USD/JPY reacts to softer data and US durable goods orders loom.
Japan's yen was climbing against the U.S. dollar Monday after Prime Minister Shigeru Ishiba vowed to stay on, even though his ruling coalition just lost its majority in the country's upper house. The
The Japanese Yen (JPY) trims a part of its intraday losses after Japan's Prime Minister Shigeru Ishiba said that he did not discuss his resignation at all and that there was absolutely no truth to media reports about his intention.
By Junko Fujita and Kevin Buckland TOKYO (Reuters) -Heading into the most consequential Japanese upper house election in memory and a possible defeat for the coalition of Prime Minister Shigeru Ishiba,
Investors will be keeping a close watch on the People’s Bank of China’s decision on its 1-year and 5-year loan prime rates for July, expected later in the day.
The dollar edges higher as concerns about tariffs ease after President Trump announced a trade agreement with Japan. The U.S. will impose a 15% tariff on Japanese goods, lower than the 25% rate Trump had threatened in a letter to the Japanese government.
The Indian rupee is poised to open slightly higher on Tuesday, supported by a retreat in the dollar index that was largely triggered by a post-election rally in the Japanese yen.
USD/JPY climbs as risk-on sentiment and a firm US Dollar weigh on the safe-haven Yen. The Japanese Yen (JPY) is weakening against the US Dollar (USD) on Friday as risk-on sentiment and widening interest rate differentials continue to pressure the Yen.