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19.11.202502:20:27UTC+00Yen Steadies After Takaichi-Ueda Meeting

The Japanese yen stabilized around 155.5 per dollar on Wednesday, halting a recent downturn as investors considered the Bank of Japan's (BOJ) policy direction following discussions between Governor Kazuo Ueda and Prime Minister Sanae Takaichi. During their meeting on Tuesday, Governor Ueda informed Prime Minister Takaichi that the BOJ is incrementally increasing interest rates with the aim of guiding inflation towards its 2% target, while simultaneously supporting sustainable economic growth. Following this meeting, Ueda noted to reporters that Prime Minister Takaichi did not express any specific requests regarding monetary policy. Market analysts remain divided on whether the BOJ will implement another rate hike in December, given the mixed economic indicators. On the economic data front, Japan's machinery orders surpassed expectations in September, indicating strong capital investment. Nevertheless, the yen continues to hover near ten-month lows, fueled by anticipation of significant fiscal spending under the new administration.

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