The yen weakened to around 147.5 per dollar on Monday as the greenback gained ahead of a key meeting in Washington between US President Donald Trump and Ukrainian President Volodymyr Zelenskiy aimed at advancing a peace deal with Russia.
Investors also looked to the Federal Reserve's annual Jackson Hole symposium this week for signals on the global interest rate outlook. In Japan, data released Friday showed the economy expanded more than expected in the second quarter, supported mainly by net exports despite headwinds from US tariffs.
Meanwhile, Japanese officials downplayed remarks from US Treasury Secretary Scott Bessent, who said the Bank of Japan was "behind the curve" on policy in what appeared to be an attempt to pressure the central bank to raise rates. BOJ Governor Kazuo Ueda has also maintained a cautious tone, stressing that "underlying inflation" remains below the 2% target
Source: Trading Economics
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