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Mitsubishi UFJ: Fed meeting notes and Fed Chairperson Powell's speech will determine the future direction of the yen

Mitsubishi UFJ said the yen could appreciate further against the dollar if the Fed's meeting notes this week and Fed Chairperson Jerome Powell's remarks on Friday depress U.S. Treasury yields. Analyst Derek Halpenny said in a note that meeting notes could provide an indicator of the magnitude of interest rate cuts expected in September. Powell's remarks at the Jackson Hole symposium on Friday could also indicate that the Fed is preparing to cut rates. These events are important in determining wh...

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2024-08-19 20:04:41