Japan's Top FX diplomat Mimura says conversations with PM Takaichi suggest the political momentum to stick with the manifesto of making food sales tax cut temporary is quite strong

Japan's Top FX diplomat's comments indicate political support for temporarily cutting food sales tax, which may aim to alleviate inflationary pressures. This could lead to a stronger yen if market participants view it as a response to rising living costs, impacting local consumer sentiment and overall economic stability.