Moody’s Says Peru’s President-Elect Keiko Fujimori Could Boost Investor Confidence 
Supreme Court Backs Lisa Cook, Defends Federal Reserve Independence Against Trump Firing Attempt 
China Keeps Loan Prime Rates Unchanged for 13th Straight Month as Policymakers Prioritize Credit Demand Recovery 
Fed Chair Kevin Warsh Signals Policy Overhaul as Hawkish Rate Outlook Rattles Markets 
BOJ Rate Hike Expectations Rise as Weak Yen and Strong U.S. Jobs Data Increase Pressure 
South Korea Warns Won Is Undervalued, Boosts FX Coordination With Japan 
Goldman Sachs Says China Competition Weighs More on EU Growth Than Trade Deficit 
BoE Policymaker Alan Taylor Signals No Need for Interest Rate Hike Amid Iran War Inflation Risks 
ECB Keeps July Rate Options Open Amid Iran War Energy Price Risks 
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.
