The Japanese Yen (JPY) edges lower against the US Dollar (USD) on Thursday.
The Japan ese Yen lost ground following the trade deficit data released on Wednesday. A Reuters poll suggested that 31 out of 54 economists expect the BoJ to raise rates before the end of the year. The recent
Minutes suggested that most Fed officials agreed on a rate cut in September. The Japanese Yen edges lower against the US Dollar on Thursday. The USD/JPY pair gains ground as the JPY remains tepid following the record trade deficit report on Wednesday. Traders are anticipating Bank of Japan Governor Kazuo Ueda's appearance in parliament on Friday, where he will discuss the central bank's decision last month to raise interest rates.
Minutes for July’s policy meeting indicated that most Fed officials agreed last month that they would likely cut their benchmark interest rate at the upcoming meeting in September as long as inflation continued to cool. Japan's Merchandise Trade Balance fell into a deficit of ¥621.84 billion in July, reversing the surplus of ¥224.0 billion reported in June and missing market estimates of a ¥330.7 billion shortfall. Japan's imports surged by 16.
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