Yen near 2-week high as Fed cut bets grow

The Japanese yen hovered near 144.4 per dollar on Friday, holding close to its two-week high as the US dollar extended its slide. The dollar index fell toward 97, its lowest since February 2022, amid rising bets on deeper Federal Reserve rate cuts. Market sentiment turned dovish after reports hinted that President Trump could announce his Fed Chair nominee by September or October. Meanwhile, Tokyos core inflation eased in June but stayed well above the BOJs 2% goal, keeping expectations alive for more rate hikes from the Bank of Japan.

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