This podcast episode explores recent developments in the FX market, particularly in Japan and the Bank of England. The speaker discusses the intervention and fundamental perspective in the FX market, highlighting the role of the Ministry of Finance and the Bank of Japan in addressing the issue. They also discuss recent meetings and speeches by Governor Ueda and Prime Minister Kishida, which indicate a more hawkish stance and potential rate hikes. The episode also touches on the potential for a rate cut by the Bank of England, taking into account GDP data and the need for key individuals to support the decision. Overall, the episode emphasizes the importance of monitoring FX in relation to inflation and the global economy.