The UK-Japan-Italy Global Combat Air Programme has just secured a major contract described as a "major step forward." For non-American defense investors, this signals that the program is politically irreversible—and industrially open to partnerships.
22 h ago 7 9
USD/JPY breaks through the 158-160 range - the historic tolerance level of the Ministry of Finance. The Bank of Japan has fewer and fewer reasons not to act in July.
Jul 1, 2026 at 09:38 9 9
At the close of Q2 2026, the yen hits a 40-year low against the dollar. The Nikkei and Kospi post a strong quarter in nominal terms—a paradox masking structural monetary fragility. Both the BoJ and FOMC meet on July 30-31: the dual catalyst approaches.
Jun 30, 2026 at 09:35 9 12
The Kishida government includes the coded phrase "appropriate monetary policy" in its draft annual economic plan—a clear signal of non-opposition to a BoJ rate hike in July, as USD/JPY trades in the 155-157 range and JPY carry trade tensions rise. [ENCADRE titre="Key Context"] [ENCADRE contenu="This language marks a shift from previous statements, aligning with market expectations of a potential Bank of Japan (BoJ) policy adjustment amid persistent yen weakness and inflationary pressures."]
Jun 29, 2026 at 17:16 9 11
The Japanese government included in its annual plan on June 29 the notion of an "appropriate monetary policy" – a deliberately ambiguous signal that sets the stage for a possible BoJ rate hike in July, without stating it explicitly. The JPY carry trade is entering a risk zone.
Jun 29, 2026 at 09:02 10 10
Two contradictory signals from the Fed in 48 hours, a Japanese government encoding its tolerance for further BoJ hikes – one month ahead of the FOMC/BoJ double meeting, markets are reading between the lines.
Jun 28, 2026 at 15:39 9 10
Washington urges Japan, South Korea, and the Philippines to double their defense budgets—a demand that generates as many industrial opportunities as it does regional geopolitical tensions.
Jun 25, 2026 at 22:34 11 10
As the BOJ scales back its government bond purchases, Japanese commercial banks hesitate to step in—a strain that threatens the stability of Japan's sovereign financing.
Jun 25, 2026 at 22:34 11 9
The Bank of Japan reveals a pro-hike consensus in its June Summary of Opinions. Meanwhile, the dollar reaches a 13-month high against Asian currencies. The JPY carry trade mechanism enters its phase of maximum tension.
Jun 25, 2026 at 03:01 10 8
The summary of the Bank of Japan's June 2026 opinions confirms a growing consensus to continue normalization. Over $1 trillion in JPY carry trade positions are in the crosshairs if the BOJ accelerates.
Jun 24, 2026 at 18:35 12 9
The DXY at a 13-month high increases pressure on the yen and the yuan. Asian emerging markets are suffering. An FX signal that reinforces the thesis of a prolonged strong dollar cycle under Warsh.
Jun 24, 2026 at 18:04 10 8
