EUR/USD
1.16451
0.006%
Gold
4205.65
-0.073%
Oil
59.433
-0.086%
USD/JPY
155.152
0.027%
GBP/USD
1.33256
-0.012%
GBP/JPY
206.753
0.029%
Real-time News
Japans foreign exchange reserves stood at $1,359.4 billion in November, compared with $1,347.4 billion in the previous month.Microsoft (MSFT.O) announced on December 4th that it will raise the subscription price of its Office software for business and government customers on July 1, 2026.Japans total household spending fell 3.5% month-on-month in October, compared to a forecast of 0.7% and a previous reading of -0.7%.Japans household spending in October fell 2.9% year-on-year, compared to a forecast of 1% and a previous reading of 1.80%.On December 5th, analysts stated that Bank of Japan Governor Kazuo Uedas emphasis on inflation risks and the danger of a weak yen persuaded Prime Minister Sanae Takaichi to accept his plan to raise interest rates in December. Just last year, Takaichi publicly called a rate hike a "foolish move." This communication appears to have worked: both the market and the new Japanese government received the signal that a small 25 basis point rate hike to 0.75% later this month is almost certain, alleviating concerns that the Bank of Japan might succumb to political pressure and abandon its tightening policy. However, a more pressing issue remains: how will the Bank of Japan communicate its future rate hike path? This task is far more complex than a single rate hike, given the lack of consensus on a reasonable range for the neutral interest rate. Currently, a "fragile truce" exists between the central bank and the government, keeping the bond market tense. Investors are now focused on how Ueda will articulate the pace of subsequent rate hikes.
