Will USD/JPY hold support after Federal Reserve holds US interest rates steady?

• The Takaichi Administration is facing a fiscal squeeze as Japan recorded a 364 billion yen trade deficit for the month, equivalent to roughly 7% of the annual defense budget. • Trade data shows oil imports from the United States now comprise 36% of Japan's total volume, while Chinese tourism remains down over 50% for the eighth straight month.

• A recent Supreme Court ruling regarding mail-in ballots has created significant uncertainty for voters in California and San Diego, where mail-in voting is the primary method. • Despite the legal ambiguity, a political science professor indicates that the ruling is unlikely to result in actual changes to the procedures for the upcoming midterm elections.

• Canadian Prime Minister Mark Carney has expressed his intention for Canada to become a European protectorate, asserting that he views the nation as part of Europe. • This strategic shift comes as trade conflicts between Canada and the United States continue to deepen, leaving Canada seeking new stability.

• The Supreme Court lifted a federal judge's injunction on Monday, allowing key provisions of President Donald Trump’s mail-in voting order to proceed during the appeals process. • The ruling specifically permits the creation of eligible citizenship lists and governs the distribution of ballots via the USPS, overturning a previous block based on "speculation" regarding the 2026 midterms.

• Mail-in voting has expanded significantly since 2000, with 37 states now permitting no-excuse ballots leading into the 2026 elections. • Donald Trump has proposed that the postmaster general mandate all mail-in and absentee ballots be placed in secured envelopes marked "Official Election Mail" featuring unique tracking barcodes.

• U.S. Senator Darline Graham won the Republican primary runoff on Tuesday to secure the GOP nomination for her late brother Lindsey Graham's Senate seat in South Carolina. • The victory ensures Graham will appear on the general election ballot to represent the state in the U.S. Senate.

• UK Prime Minister Burnham will join a delegation of world leaders to lobby US President Trump to increase the supply of Patriot missiles to Ukraine. • The diplomatic push follows urgent pleas from President Zelenskyy to bolster Ukraine's air defenses against ongoing Russian attacks.

• The Supreme Court granted President Donald Trump a preliminary victory by lifting several legal hurdles to his plan to limit mail-in voting eligibility. • Despite this ruling, the president's proposal remains currently blocked by a lower-court order, meaning the rules have not yet changed.

• Dutch Bros shares rose 4.17% in recent trading to reach a price of $51.95. • Technical analysis indicates the stock is showing strong upward momentum and is currently trading above key support levels.

• The "Cockroach" party, a political pressure group, has announced a new protest march in Delhi. • The group is demonstrating against the Modi government, claiming the administration has failed to honor promises that previously led the party to cancel protests in July.

• A surge of protests in India has significantly disrupted the traditional media landscape, leading to a shift from legacy news outlets to independent digital platforms. • Independent journalists and "celebrity YouTubers" are increasingly replacing traditional anchors as audiences flee "godi media," a term used by journalist Ravish Kumar to describe outlets that dismiss political dissent.

• British American Tobacco shares are currently trading at GBX4,166, reflecting a 0.67% decrease as the stock holds near a support level of GBX4,139. • The company has recently conducted a share buyback program, which has effectively reduced the stock's free float and contributed to mixed technical signals.