USD/JPY is consolidating just under yesterday’s intra-day high of 152.17. Japan’s top trio - Prime Minister Takaichi, Finance Minister Katayama, and Economy Minister Kiuchi – all stressed the Bank of Japan’s (BOJ) independence, BBH FX analysts report, BBH FX analysts report.
USD/JPY drops 0.30% on Tuesday to around 151.80 at the time of writing, in a cautious environment dominated by renewed US-China trade frictions. News that both countries are increasing port fees on cargo shipments has reignited fears of a deeper disruption to global trade.
Komeito party leader Tetsuo Saito said on Friday, “we cannot agree with the Japan’s ruling Liberal Democratic Party (LDP) on issues involving money, politics.”