investingLive Asia-Pacific FX news wrap: Yen strengthens, Trump’s in town!

• S&P rates Saylor’s Bitcoin firm “B-”, ‘junk’, first credit grade for crypto treasury firm
• Nomura sees recurring tension/truce cycle as new normal in U.S./China ties
• Trump and Takaichi have signed their framework for securing critical mineral supply
• PBOC sets USD/ CNY central rate at 7.0856 (vs. estimate at 7.1029)
• Japan PM Takaichi: Want to realise a new golden age of Japan-US alliance with Trump
• USD/JPY below 152.50: Trump/Takaichi meeting ahead, economy minister verbal intervention
• UK shop prices fall for first time since March as food inflation cools
• Japan’s eco min says its important for FX moves to reflect fundamentals, be stable
• Australian Federal Police have raided WiseTech – investigating alleged insider trading
• South Korea Q3 GDP +1.2% q/q (vs. expected +0.9%)
• Sterling vulnerable if BOE cuts rates in December, MUFG says
• Coming up today – Trump meets Japan’s Takaichi to deepen defence, trade cooperation
• China (PBOC) reaffirms crypto ban, accelerates digital yuan rollout
• Beijing and Berlin play down diplomatic rift after German minister cancels China trip
• South Korean October consumer sentiment index drops to 109.8 (prior 110.1)
• Morgan Stanley notes US dollar comeback but warns of fragile rally
• ICYMI – Bessent has named five finalists for Fed chair
• FOMO trading continue in the stocks with new records for the 3 major indices
• investingLive Americas market news wrap: US stock markets rip to fresh records

From Japan today, there were a couple of notable developments.
President Trump and Prime Minister Sanae Takaichi signed a framework agreement to secure the supply of critical minerals and rare earths — a widely expected step. The two appeared to get along well, with one Japanese media outlet noting that “Japan PM Takaichi lavishes praise on Trump in first meeting.”

Earlier, Economy Minister Kiuchi made yen-supportive remarks — a touch of verbal intervention in familiar form. The yen strengthened on the session, with USD/JPY touching lows around 152.30 before steadying.

Elsewhere, major FX traded in subdued ranges, with a hint of strength in EUR and GBP.
Data from South Korea showed the economy grew 1.2% in the third quarter, exceeding expectations as construction and exports stabilised and fiscal stimulus underpinned activity. Analysts said the momentum looks set to continue into 2026, though much now depends on resolving a $350 billion trade deal with Washington.

Asia-Pac
stocks:

• Japan
  (Nikkei 225) -0.18%
• Hong
  Kong (Hang Seng) -0.28%
• Shanghai
  Composite -0.1%
• Australia
  (S&P/ASX 200) -0.44%

This article was written by Eamonn Sheridan at investinglive.com.