Japan's Prime Minister Fumio Kishida announced he will step down next month and will not seek a second term. The Nikkei 225 (^N225) moved slightly on the...
Japan 's Prime Minister Fumio Kishida announced he will step down next month and will not seek a second term. The Nikkei 225 moved slightly on the news, but investors are closely watching how the leadership change could impact the dollar-yen carry trade.And of course, this is true.
Specifically on the Japanese currency, we saw the yen move just slightly higher against the dollar here, although just slightly here now. Now markets are going to be watching the leadership transition closely, with some familiar names within Japan's ruling party already being floated around as possible replacements.You've got the BOJ just now beginning to raise interest rates at a time when all other major central banks are starting the process of cutting rates, or at least considering it now.
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