Japanese yen hits 7-month high vs US dollar amid US economic slowdown and Fed rate cut expectations.
The Japanese yen hits a 7-month high against the US dollar amid US economic slowdown concerns and expectations of deeper rate cuts by the Federal Reserve. Market analysts anticipate a 50-basis point rate cut at the Fed's upcoming September meeting, but some believe it may be excessive. The concerns were triggered by weak US labor data and disappointing earnings reports from major tech firms.
August 05, 2024
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