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According to Irans Mehr News Agency: Preliminary reports indicate that Iran launched an attack on a US missile launch site in Kuwait.On July 12, local time, US President Trump stated that the US had launched a "fierce strike" against Iran the previous night. In an interview that day, Trump claimed that the US and Iran had reached an agreement the previous day, and Iran was "prepared to give up everything," but hours later, a ship was attacked by a drone. The US military stated that after an attack on a merchant ship in the Strait of Hormuz, the US military launched a new round of strikes against approximately 140 Iranian military targets. This is the third US strike against Iran in a week. There are differing opinions regarding the navigation status of the Strait of Hormuz. Irans Persian Gulf Straits Authority announced on social media on July 12 that the Strait of Hormuz is currently impassable. Trump, however, stated, "As far as the United States is concerned, the Strait of Hormuz remains open."Market news: British Prime Minister-designate Andy Burnham plans to expand the autumn budget. British officials are considering releasing the budget in October.July 12 – As part of a “political strategy” adjustment, Ukrainian President Volodymyr Zelensky is considering replacing the country’s prime minister. With Ukraine preparing for winter amid ongoing threats of Russian attacks, he may nominate a state-owned energy company executive or a former prime minister to succeed him. According to sources, Zelensky is considering appointing Sergei Koletsky, head of the state-owned oil and gas company, or former prime minister and current energy minister Denis Shmyhal for the position. Zelensky met separately with Koletsky and Shmyhal on Sunday and received briefings. He has invited current prime minister Yulia Sviridenko to “take charge of new and important areas with key partners” and thanked her for her “clear, robust, and efficient work” over the past year. Zelensky also met with officials including the mayor of Kharkiv and the defense minister. Zelensky stated that winter preparations are of paramount importance, Ukraine needs to be prepared for any threat, and the transformation of state-owned enterprises must be accelerated.On July 12, 2026, the head of the Asian Department of the Ministry of Foreign Affairs issued a statement regarding the Japanese Foreign Ministers hype surrounding the tenth anniversary of the "South China Sea arbitration ruling" and Japans joint statement with other countries. The Chinese side urgently summoned the chief minister of the Japanese Embassy in China to lodge a solemn representation, expressing strong dissatisfaction and protest. China pointed out that Japan bears historical responsibility for the South China Sea issue and has not yet settled accounts, and has no right to make irresponsible remarks. Japans egregious words and actions challenge the post-war international order and international rule of law, adhere to double standards, distort facts, undermine peace and stability in the South China Sea, and violate the common interests and wishes of regional countries. This has aroused historical vigilance and strong indignation from the international community, including China, regarding Japans aggression and colonial atrocities since modern times. China will resolutely and forcefully counter Japans provocations and firmly defend its territorial sovereignty and maritime rights. China also lodged a strong protest regarding the Taiwan issue, Japans abandoned chemical weapons, Japanese parliamentarians unwarranted comments on Chinas ethnic policies, and a series of negative developments in Japans military and security.

USD/JPY falls to 146.00 as the DXY weakens and interest in BOJ policy rises

Alina Haynes

Oct 27, 2022 15:28

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During the Asian session, in response to negative signals from the US dollar index, the USD/JPY pair plunged below 146.00. (DXY). Following Wednesday's low of 146.22, the asset's two-day downward trend has extended. The main index is reaching the bottom of Monday's knee-jerk reaction near 145.77 as it continues to decline.

 

The dollar bears are facing a severe sell-off due to the positive market sentiment. The risk-sensitive currencies have benefited from an increase in risk appetite. The US dollar index (DXY) has struck a new monthly low of 109.56 and is anticipated to stay volatile until the release of crucial US economic data.

 

The increased demand for U.S. government bonds has resulted in a decline in yields. This is due to the global markets' increased confidence. The yield on 10-year United States Treasury notes has decreased to 4%.

 

According to estimates, the Gross Domestic Product of the United States expanded by 2.4% in the third quarter. Despite the ultra-hawkish monetary policies of the Federal Reserve (Fed) and the previously disclosed 0.6% fall in growth, forecasts indicate a positive growth rate.

 

In addition, US Durable Goods Orders data will continue to be a key point. Compared to a reduction of 0.2%, it is projected that economic statistics will increase by 0.6%. Notable is the increase in core inflation, which includes oil and food prices. In spite of this, the predicted increase in demand for durable goods in the United States demonstrates healthy household demand.

 

Investors in Tokyo are anticipating the Bank of Japan's (BOJ) interest rate decision on Friday. In view of the shocks to foreign demand, BOJ Governor Haruhiko Kuroda will continue an ultra-loose monetary policy to stimulate the outlook for economic development. In addition, Japanese policymakers are anxious that the inflation rate could go below 2%; hence, an extremely liberal policy is the best alternative.

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