If not now, yen?

The Bank of Japan raises rates to a 31-year high, but the yen weakens anyway. President Donald Trump and Xi Jinping prepare for talks next week, with trade, AI and semiconductors in focus. Meanwhile, China pushes Iran to rein in its Houthi allies as efforts intensify to ease pressure on global oil supplies.

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Today's recommended read: Record diesel prices could be Trump's Achilles' heel Ron Bousso

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