Japan’s consumer prices stopped falling in August, and it was the first time in 13 months. Prices excluding fresh food were unchanged on a yearly basis, in line with expectations. Despite the producer prices jumping by 5.5% in August, most businesses are not passing on the costs to consumers. The rise in the hotel costs was primarily due to the government’s “Go-To Travel” discounts. However, USDJPY is still on the rise, a combination of the USD’s growing strength and JPY’s continued weakness. Currently, the pair trades at 110.53, up about 0.2% in today’s session.
UAE regulators this week announced that it would facilitate the regulation and trading of crypto assets within the free zone. This initiative creates a framework that allows the Dubai World Trade Center Authority (DWTCA) to provide licenses and approvals for crypto-related financial activities. At press time, Bitcoin was up slightly in the session but still hovers below the 45,000-level.