The Japanese yen weakened toward 148 per dollar on Monday (August 4), weakening after the previous session's gains as investors reassessed the direction of US Federal Reserve policy. Although a weak US jobs report on Friday reinforced expectations of a near-term interest rate cut, Fed officials remained cautious, citing inflation risks associated with President Trump's massive tariffs.
The dollar strengthened again as sentiment shifted, pressuring the yen. Meanwhile, markets awaited the minutes of the Bank of Japan's latest policy meeting for clues on the timing of a potential interest rate hike. The BOJ maintained interest rates last week but raised its inflation projections, while warning of rising uncertainty due to global trade tensions. (alg)
Source: Trading Economics
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