Federal Reserve official Bessent said he told Bank of Japan Governor Ueda that “Japan needs to control its inflation problem.”
He also said, “At the September meeting, we should make a large 0.5% interest rate cut.”
These comments pushed the U.S. dollar lower and the Japanese yen higher.
The U.S. CPI (Consumer Price Index) results from the day before also had an effect, and USD/JPY fell to 147.10.
Today, the U.S. PPI (Producer Price Index) and the number of new jobless claims will be announced.
Depending on these results, the U.S. dollar might recover for a short time.
However, the Federal Reserve’s rate cut direction is not expected to change, so traders may consider selling if the price goes up.
USD/JPY forecast range: 146.80 – 147.80
Note: This information does not guarantee profits. Please make your own decisions when trading.