The news and views so far ICYMI:
- Sanae Takaichi wins runoff vote in LDP leadership race
- Japan's Takaichi says to carefully consider if current govt-BOJ accord is most appropriate
- USD/JPY gap higher open on the back of Japanese politics, circa 149.35
- Japan - the yen has gapped lower, while the Nikkei has a huge gap higher
- Takaichi victory cools BOJ hike odds, rate path stays cautious
I posted earlier to watch for a gap fill for the yen. I am still expecting this but USD/JPY is back on approcah towards 149.50. The high I saw earlier was around 149.60.
Yen crosses have jumped also, as you'd expect given this is a yen move not a USD one. Fore example:
- EUR/JPY to highest since July 2024
- AUD/JPY to highest since January 2025
Gold is not being left behind, its hitting around USD3920, a fresh record high.
