Yen dips past 150 after BOJ keeps rates steady, amid political uncertainty and global market swings. Japan’s currency is key in world finance.
Japan's Finance Ministry confirmed no direct intervention to support the yen in the past month, despite market speculation. The yen has strengthened from around 160 to 154 against the dollar amid signals of potential coordinated action with the US, as traders assess Japan's response to currency volatility ahead of a snap election on February 8.
Japanese Prime Minister Sanae Takaichi's sweeping election victory has led to a surge in markets and a push for a ¥21 trillion stimulus package, despite concerns over Japan's high debt and funding uncertainties. The government aims to suspend the 8% food sales tax temporarily, with plans to support domestic chipmaking and economic growth.
Stocks in Tokyo and other markets declined amid escalating Middle East conflict after US and Israeli strikes on Iran. Oil prices surged, with Brent reaching over $80 per barrel, and safe-haven assets like gold gained. The Strait of Hormuz remains a critical flashpoint.