27.08.202501:55:19UTC+00Japanese Yen Remains Sideways

The Japanese yen remained stable around 147.6 per dollar on Wednesday, maintaining its position as investors eagerly anticipated a series of upcoming economic reports that could influence the Bank of Japan's policy direction. Key data scheduled for release later this week include figures on industrial production, retail sales, and consumer confidence. Over the weekend, Bank of Japan Governor Kazuo Ueda expressed optimism that wages in Japan would continue to rise due to a tightening labor market, suggesting that conditions for another interest rate increase are gradually coming into view. During its meeting in July, the Bank of Japan decided to keep interest rates steady but did raise its inflation projections and offered a more positive economic outlook. On a broader scale, investor sentiment was dampened by renewed concerns regarding the independence of the US Federal Reserve, following President Donald Trump's announcement of his intention to dismiss Fed Governor Lisa Cook amid allegations of mortgage fraud.