The USD/JPY pair saw a significant rise driven by a recovering U.S. dollar and anticipation of the Bank of Japan's upcoming interest rate decision on Friday.
Fed Chair Jerome Powell characterized the rate cut as 'strong' yet necessary to ensure economic stability amid ongoing inflation decline and labor market concerns.
The Fed maintains a cautious monetary policy approach, signaling no further rate cuts before November amidst concerns about the unemployment rate remaining high.
In light of expectations for another rate cut later this year, the U.S. dollar may struggle to gain against the Japanese yen, influenced by economic data.
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