The yen slid in Asia as USD/JPY rebounded to about 147.50, a pullback from Friday’s Powell‑driven dip, while the dollar’s modest gains touched other pairs.
Key moves
- USD/JPY climbed to ~147.50 before flattening.
- New Zealand Q2 retail sales rose 0.5% q/q, beating the 0.2% forecast.
- Asian equities advanced: ASX 200 +0.3%, Hang Seng +1.9%, Shanghai Composite +1.2%, Nikkei 225 +0.25%.
- BOJ Governor Ueda hinted at further rate hikes, a yen‑supportive signal.
- Fed President Powell’s remarks at Jackson Hole left the door open for a September rate cut.
Summary
The session saw the yen weaken against a stronger dollar, with USD/JPY finding support near 147.50. Positive domestic data in New Zealand and upbeat equity gains across the Asia‑Pacific region were buoyed by expectations of a Fed rate cut in September, while BOJ signals added a muted degree of support for the yen.
(Source)
