1. Currency traders’ worries about Japan’s fiscal health sent the yen to the lowest level against the euro since the single currency’s 1999 debut. Prime Minister Takaichi Sanae’s economic package, likely to emerge as early as this week, is expected to be large in scale. The Japanese currency weakened overnight in New York, briefly hitting the 180-yen level against the euro. Market participants also expect no interest-rate hike in the Bank of Japan’s upcoming policy meeting in December.
2. A recent comment about Taiwan by Japanese Prime Minister Takaichi Sanae has strained relations with China. A senior Japanese diplomat headed to Beijing on Monday in what is believed to be a bid to ease tensions. Takaichi told Diet members earlier this month that a military emergency over Taiwan could be regarded as a situation that would threaten Japan’s survival. Her comment sparked an uproar in China.
3. The British government unveiled plans for major changes to tighten its asylum policy on Monday, amid mounting public frustration and concern over the increasing number of asylum seekers. People seeking asylum in the UK are currently allowed to stay in the country for five years once they are granted refugee status. At the end of the period, refugees can apply for the right to settle permanently.