Japan prime minister Takaichi says ready to take necessary action on speculative FX moves

Japan's Prime Minister Takaichi expressed readiness to take necessary actions regarding speculative FX movements but refrained from commenting on specific FX levels. She is examining sources of revenue to fund a consumption tax cut while keeping a close watch on currency and interest rates. Takaichi emphasized the need to ensure the sustainability of Japan's fiscal health by lowering the debt-to-GDP ratio, which is challenging given the expansive fiscal policies currently in place. The Japanese yen has been under pressure since last October, and this stance could potentially lead to increased selling of the yen. Currently, USD/JPY trades at 157.93, maintaining the 158.00 level despite a brief dip to 157.42 earlier in the day.