USD/JPY appreciates after registering around 1% losses in the previous session, trading around 147.40 during the Asian hours on Monday. However, the upside of the pair could be limited as the Japanese Yen (JPY) may regain ground after hawkish comments from the Bank of Japan (BoJ) Governor Kazuo Ueda at the Jackson Hole symposium on Saturday.
BoJ Governor Ueda signaled his optimism that conditions for another interest rate hike were taking shape. He stated that wage hikes are spreading from large enterprises to small and medium enterprises and are likely to keep accelerating due to a tightening job market, per Reuters.
Additionally, data released on Friday showed that Japan's core inflation slowed for a second consecutive month in July but remained above the Bank of Japan's 2% target, sustaining market expectations of another rate hike in the coming months. The nationwide core consumer price index (CPI), which excludes fresh food, rose 3.1% year-on-year in July, slightly above the median forecast of 3.0%.
Source: FXstreet
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