ALL EYES ON US INFLATION
On Monday, the Japanese yen declined to over 144.40 yen against the US dollar in thin trading, continuing losses incurred last week amid concerns that the Bank of Japan is in no hurry to raise interest rates.
Last week, the yen lost more than 2% as the Bank of Japan kept its interest rate unchanged at 0.25% in a unanimous vote, in line with expectations.
At the same time, Bank of Japan Governor Kazuo Ueda acknowledged "some weakness" in the economy during his post-meeting press conference, a slightly more dovish tone than previous statements.
According to Forex trading, his comments weakened the prospects of a rate hike in October, although one is still expected in December. However, Ueda maintained his forecast that the economy is steadily progressing towards a modest recovery, affirming that the central bank "will continue to adjust the degree of easing" if its economic and price forecasts are realized.
Externally, the yen faced pressure from rising risk assets after the Federal Reserve's large interest rate cut boosted global economic expectations.
According to stock trading platforms, the Standard & Poor's 500 and Dow Jones rose to new record highs. According to performance, the Standard & Poor's 500 rose 0.3%. Also, the Dow Jones rose 0.1%, both hitting new record highs at the start of the week after last week's rally that was spurred by the Federal Reserve's first interest rate cut in four years, which was set at 50 basis points.
ALL EYES ON US INFLATION
On Monday, the Japanese yen declined to over 144.40 yen against the US dollar in thin trading, continuing losses incurred last week amid concerns that the Bank of Japan is in no hurry to raise interest rates.
Last week, the yen lost more than 2% as the Bank of Japan kept its interest rate unchanged at 0.25% in a unanimous vote, in line with expectations.
At the same time, Bank of Japan Governor Kazuo Ueda acknowledged "some weakness" in the economy during his post-meeting press conference, a slightly more dovish tone than previous statements.
According to Forex trading, his comments weakened the prospects of a rate hike in October, although one is still expected in December. However, Ueda maintained his forecast that the economy is steadily progressing towards a modest recovery, affirming that the central bank "will continue to adjust the degree of easing" if its economic and price forecasts are realized.
Externally, the yen faced pressure from rising risk assets after the Federal Reserve's large interest rate cut boosted global economic expectations.
According to stock trading platforms, the Standard & Poor's 500 and Dow Jones rose to new record highs. According to performance, the Standard & Poor's 500 rose 0.3%. Also, the Dow Jones rose 0.1%, both hitting new record highs at the start of the week after last week's rally that was spurred by the Federal Reserve's first interest rate cut in four years, which was set at 50 basis points.