Forex news for Asia trading Wednesday 3 August 20
USD/JPY gained steadily for much of the session, without much in the way of news. PM Abe has reshuffled his cabinet; he is expected to have brought in Kozo Yamamoto as a minister. Yamamoto is a staunch advocate of Abenomics, to the extent he has in the past advocated the BOJ underwrite government debt and setting the 2% inflation target into law. This may have been a factor in the yen selling today or maybe not.