[CALENDAR ADDITION] Japanese PM Takaichi will be conducting a press conference at 18:30 local time (10:30BST/05:30EDT)

A scheduled prime ministerial press conference is a fixture rather than a surprise, but from a recently installed Japanese leader these events carry more than usual informational weight: inaugural and early-tenure pressers are where fiscal intentions, supplementary budget plans, and any line on the central bank's independence tend to get their first substantive airing. The transmission channels are well established. Fiscal expansion talk feeds JGB yields, particularly at the super-long end where the supply sensitivity sits, while any comment on the pace of policy normalisation moves the front end and the yen directly. Takaichi's prior form is on the record as favouring loose fiscal and accommodative monetary settings, so the market read will hinge on whether she reaffirms or moderates that stance, and on whether she names a figure for stimulus or revisits the inflation target framework. Tells worth noting are the prepared remarks versus the Q&A, where the more market-relevant language has tended to surface, and any follow-on scheduling of a cabinet or coalition fiscal announcement. The early-morning European timing means initial price discovery runs through thin Asia-session liquidity, a pattern that has historically exaggerated first moves in JPY and JGB futures before London refines them.