The Presidential Daily Brief

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    Bank of Japan Hunkers Down as Yen Surges

    The whole world is waiting. With the yen soaring, the Bank of Japan followed the U.S. Federal Reserve’s lead and opted to hold steady at their meeting this week. With Prime Minister Shinzo Abe’s economic plan failing to produce much growth, many hoped the central bank would take action — particularly since the yen’s been surging as global investors, worried by next week’s Brexit vote, flock to the relatively safe currency. July’s meeting — after Brexit and new elections for Japan’s upper house — will be the one to watch.

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