Oh, the global stock market was extremely turbulent in mid to late July. The Nikkei Stock Average (on-market basis) reached a high of 2,426,000 yen on July 11th, but fell to a low of 761,100 yen on the 26th. It was a panic-inducing plunge. The decline was 4,815 yen, with a decrease of 11.3%. Honestly, this is too much of a drop.
In the market, it is explained that there has been a reversal of the yen carry trade. The recent example of this was in 2007. In that situation, the yen appreciated by 10%. If we assume a 10% appreciation this time, we must be prepared for a level around 1 dollar = 145 yen.
However, in the short term, we don't expect the yen to appreciate that much. The reason for this is that the deficit in trade and service balance and the amount of outward investment are extremely different compared to 2007.
Currently, there is pressure for the yen to depreciate by 37 trillion yen. For this 10 yen appreciation, it may be due to the anti-yen comments by the US presidential candidate Trump during the election, as well as the rate cut by the Federal Reserve in July and the interest rate hike by the Bank of Japan.
The current situation of "KakuTora" is becoming suspicious, and the BOJ gold...

The effect of the wage increase is coming late, so the judgment in early spring would be appropriate. We expect political leadership to prevent the economy from weakening due to the Ministry of Finance's reconstruction tax and defense tax.