investingLive Asia-Pacific FX news wrap: BOJ Governor Ueda to meet with PM Takaichi later

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Japan’s Finance Minister Katayama struck a sharper tone on yen weakness, saying she is “alarmed” by recent FX moves and noting one-sided, rapid shifts in the currency. The language marks an escalation in verbal intervention as fiscal concerns push Japan’s long-end yields to multi-decade highs, with the 30-year JGB now around 3.30%.

BOJ Governor Ueda meets Prime Minister Takaichi today in a closely watched meeting, with yen weakness and political pressure complicating the timing of the next rate hike. Ueda has hinted at a near-term move, while Takaichi has urged caution amid signs of softer economic momentum. The meeting begins at 3:30 p.m. Tokyo (0630 GMT / 0030 ET). JPY stayed heavy, USD/JPY holding near 155.20.

RBA minutes showed board members debating whether policy is still restrictive after a jump in inflation and a stronger-than-expected labour market. The bank could hold rates longer if demand stays firm, though easing remains possible if growth or jobs falter. The board views policy as only slightly restrictive and now expects inflation to sit above target until mid-2026. The tone was marginally hawkish, trimming near-term easing expectations. AUD was little moved.

China escalated pressure on Japan, banning travel by state-owned enterprise employees, cancelling tour groups and events, and halting Japanese film releases. The moves follow PM Takaichi’s recent suggestion that a Chinese attack on Taiwan could trigger a military response from Japan, raising bilateral tensions.

Bitcoin fell below $90,000, its lowest level since April, amid a broader risk-off tone.

Asia-Pac
stocks:

• Japan
  (Nikkei 225) -2.25%
• Hong
  Kong (Hang Seng) -1.11%
• Shanghai
  Composite -0.5%
• Australia
  (S&P/ASX 200) -1.8%

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