Japan Economy Minister Downplays Inflation Risks Despite BOJ Warning 
ECB Rate Hike Bets Rise as Inflation Risks Persist 
Bessent Defends US Yen Intervention Over Treasury Market Risks 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Oil Prices Jump as U.S.-Iran Tensions Threaten Hormuz Supply 
Japan Industrial Output, Retail Sales Beat Forecasts in July 
Asian Currencies Mixed as Yen Nears 160, Oil Surges 
Brazil Cuts Selic Rate to 14% as Inflation Eases but Risks Persist 
France Inflation Accelerates to 2.7% in August 
US Treasury Plans Weekly Iran Sanctions Push 
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According to recent data from Japan's Ministry of Health, Labour and Welfare, December's bonus payments declined 0.4% below that of 2014, shattering the Japanese central bankers' hopes of re-inflation. Further the summer bonus payment failed to impress, while regular salaries did not increased over the previous years.
The recent BoJ's monetary policy effect has faded away from the FX market. While the central bank has a number of measures at its disposal to tackle the situation including QE and rate policy among others, markets now clearly see the exchange rate as the only monetary policy measure left with the central bank. The BoJ will have no other option other than devaluating the yen.
