investingLive Asia-Pacific FX news wrap: USD/JPY inches higher still

During the Asian trading session, major FX rates saw subdued movements, with the yen slightly underperforming. USD/JPY ticked higher to around 150.80, influenced by mild verbal intervention from Japan's Chief Cabinet Secretary, Minoru Kihara, who noted that authorities are closely monitoring market moves, including long-term interest rates. However, the lack of concrete warnings or escalated actions suggests that Japan is not yet ready to intervene actively against yen weakness. Regional equity markets displayed mostly negative trends, with the Nikkei 225 down 1.07% following the soft tone from Wall Street. Meanwhile, early economic data from New Zealand showed stronger-than-expected growth, contributing to some cautious sentiment. The focus now shifts to key upcoming events, including an expected 25 basis point cut by the Bank of England, steady ECB policy, and U.S. November CPI data. On Friday, the Bank of Japan is anticipated to deliver a historic rate hike to 0.75%, signaling a significant shift in monetary policy that could have considerable market implications.