The dollar-yen exchange rate experienced hours of turbulence after the Bank of Japan delivered hawkish remarks overnight, just ahead of Fed ChairJerome Powell's highly anticipated speech at Jackson Hole, set for 10:00 a.m. ET on Friday.
During a parliamentary hearing on Friday, BoJ GovernorKazuo Uedareiterated his commitment to keep raising interest rates if inflation continues to align with the country's 2% target, indicating that recent market volatility would not deter the bank's long-term strategy for rate hikes.
However, Ueda warned that market jitters could influence the BoJ's inflation forecasts, indicating that fluctuations...
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