US EditionJapan PM's idle yen comments send finance bureaucrats scrambling
Prime Minister Sanae Takaichi's praise of a weaker yen for exporters conflicts with finance ministry views, triggering market moves and political backlash ahead of elections.
- Over the weekend, Prime Minister Sanae Takaichi praised a weaker yen in a stump speech in Kawasaki, near Tokyo, and the Japanese yen fell 0.4% to 155.39 per dollar on Monday.
- Investors and currency traders sold the yen and Japanese government bonds ahead of the vote on expectations of expansionary fiscal policy, while opposition parties reacted angrily to her Saturday remarks.
- Scenario forecasts indicate the February 8 snap election is a key catalyst for the yen, with an LDP majority pushing USD/JPY toward 160 and a coalition near 155.00, Tony Sycamore said.
- A Japanese government spokesman responded on Monday that Sanae Takaichi did not intend to tout yen depreciation, while Masanao Ozaki, Deputy Chief Cabinet Secretary, said she sought a resilient economy despite risks to resource-poor Japan.
- Looking ahead, markets will watch a crisis of confidence in the yen linked to Takaichi's election gamble, while traders remain alert to possible coordinated intervention by the U.S. and Japan.
12 Articles
12 Articles
Japan PM's idle yen comments send finance bureaucrats scrambling
Just as Japan was finally gaining ground in its long, hard fight to stop sharp currency falls, a fresh challenge has emerged from its own prime minister, whose off-the-cuff comments tell a different story about yen weakness.
Japan gov't spokesman denies PM Takaichi highlighted weaker yen's benefits
A Japanese government spokesman on Monday denied Prime Minister Sanae Takaichi had intended to talk up the benefits of the yen's depreciation in a recent campaign speech for the upcoming general election, which could be seen as support for a weaker yen.
Yen weakens after Takaichi talks down currency’s declines | The Asahi Shimbun Asia & Japan Watch
SINGAPORE--The dollar clung to its gains on Monday as investors weighed what a Federal Reserve under Kevin Warsh might look like, with his preference for a smaller balance sheet.
Japanese Yen softens below 156.00 on Japan's political uncertainty
The post Japanese Yen softens below 156.00 on Japan’s political uncertainty appeared on BitcoinEthereumNews.com. The USD/JPY pair gains momentum to around 155.85 during the early Asian trading hours on Wednesday. The Japanese Yen (JPY) weakens against the US Dollar (USD) amid political uncertainty in Japan. The Bureau of Labor Statistics (BLS) will not publish the January employment report on Friday as scheduled due to the partial government shu…
Coverage Details
Bias Distribution
- 50% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
