Created
: 2025.09.03
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Japan's LDP to consider calling leadership election
Breaking news
Japan's LDP to consider calling leadership election
New
2025.09.03 08:19
2025.09.03 08:19
2025.09.03 08:19
Former Prime Minister Aso Taro will publicly call for a new Liberal Democratic Party (LDP) presidential election on Wednesday. This development adds new impetus to the attempt to force current Prime Minister Shigeru Ishiba's hand, Bloomberg reported on Wednesday.
Furthermore, LDP Secretary-General Hiroshi Moriyama, Ishiba's key power broker within the ruling party, said he'll quit if Ishiba approves, weakening Ishiba's standing within his party and possibly starting a string of resignations at risk of reaching the prime minister himself.
Market reaction
At the time of press, the USD/JPY pair was up 0.11% on the day at 148.52.
Japanese Yen FAQs
The Japanese Yen (JPY) is one of the world's most traded currencies. Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan's policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors.
One of the Bank of Japan's mandates is currency control, so its moves are key for the Yen. The BoJ has directly intervened in currency markets sometimes, generally to lower the value of the Yen, although it refrains from doing it often due to political concerns of its main trading partners. The BoJ ultra-loose monetary policy between 2013 and 2024 caused the Yen to depreciate against its main currency peers due to an increasing policy divergence between the Bank of Japan and other main central banks. More recently, the gradually unwinding of this ultra-loose policy has given some support to the Yen.
Over the last decade, the BoJ's stance of sticking to ultra-loose monetary policy has led to a widening policy divergence with other central banks, particularly with the US Federal Reserve. This supported a widening of the differential between the 10-year US and Japanese bonds, which favored the US Dollar against the Japanese Yen. The BoJ decision in 2024 to gradually abandon the ultra-loose policy, coupled with interest-rate cuts in other major central banks, is narrowing this differential.
The Japanese Yen is often seen as a safe-haven investment. This means that in times of market stress, investors are more likely to put their money in the Japanese currency due to its supposed reliability and stability. Turbulent times are likely to strengthen the Yen's value against other currencies seen as more risky to invest in.
Last updated
: 2025.09.03
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USD: Dollar rally may be unwound - ING
Yesterday's dollar rally lacked a clear catalyst beyond the selloff in global long-dated bonds - including the high-profile UK gilts. Rising debt concerns outside the US may have triggered some unwinding of abundant USD longs.
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2025.09.03 18:09USD: The really big chunks are yet to come - Commerzbank
The US ISM manufacturing index was good for a few short-term pips, but it failed to give the dollar a real blow yesterday. This is hardly surprising.
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2025.09.03 18:02GBP/USD may retest the 1.3340 low - UOB Group
Sharp drop in Pound Sterling (GBP) may retest the 1.3340 low; a sustained decline below this level is unlikely.
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2025.09.03 17:54GBP: Reaction to gilts selloff looks a bit overblown - ING
The Pound Sterling (GBP) had a rough Tuesday as back-end gilt yields rose, with the 30-year hitting its highest level since 1998, ING's FX analyst Francesco Pesole notes.
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2025.09.03 17:29Dow Jones futures trade lower amid uncertainty over future of Trump's tariffs
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2025.09.03 17:28Disclaimer:
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