Daily Brief – Japan

Japan

Up by 47% in 2024 from 2023 the number of tourists visiting Japan has rocketed due to its favourable exchange rate. It seems unlikely but now Japan is becoming concerned about the sort of over tourism that has plagued European destinations such as Venice, Paris and Amsterdam. Meanwhile Japan is enjoying the economic windfall that 36.7 million visitors bring.

GBP/USD 1.2586.

Disappearing Foods

Climate change in the shape of droughts, heatwaves, floods and wildfires mean that White Truffles from Italy, Chickpeas that make hummus from Turkey and Gouda cheese from the Netherlands due to rising water levels are all on the watch list for foods that are in danger of being curtailed or disappearing. Add in the soaring price of olive oil or even cocoa which has risen from $2000 a ton in 2022 to its current $10000 and it looks as if foodstuffs that we all took for granted are becoming endangered. Even Dijon mustard is on the threatened watchlist. Mon dieu.

EUR/GBP 0.8336.

60-25-100

Those are the expected number of basis points cuts on interest rates for respectively the UK, USA and the EU in the course of the rest of 2025. Those respective cuts reflect the relative strengths and position in the economic cycle of those economies.

EUR/USD 1.0492.

Unintended Consequences

Since POTUS announced his country acquisition offers to Mexico and in particular Canada, sales of Canadian flags have gone through the roof. Aptly named Canadian company Flags Unlimited is struggling to meet demand. Canadians clearly want to remain Canadian.

USD/CAD 1.4182.

Day Dream Believer

This day in 1997 the ABC channel aired what turned out to be the last show where all four Monkees-Mike Nesmith, Peter Tork, Mickey Dolenz and Davy Jones all appeared.

Oh, I could hide ‘neath the wings of the bluebird as she sings
The six o’clock alarm would never ring
But it rings and I rise wipe the sleep out of my eyes
The shavin’ razor’s cold, and it stings

Cheer up, sleepy Jean, oh what can it mean
To a daydream believer and a homecoming queen?

You once thought of me as a white knight on his steed
Now you know how happy I can be
Oh, and our good times start and end without dollar one to spend
But how much baby do we really need?

Cheer up, sleepy Jean, oh what can it mean
To a daydream believer and a homecoming queen?
Cheer up, sleepy Jean, oh what can it mean
To a daydream believer and a homecoming queen?

Cheer up, sleepy Jean, oh what can it mean
To a daydream believer and a homecoming queen?
Cheer up, sleepy Jean, oh what can it mean
To a daydream believer and a homecoming queen?

Discussion and Analysis by Humphrey Percy, Chairman and Founder

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