Federal Reserve Chairman Jerome Powell cited the Michigan report’s inflation outlook as one of the indicators the central bank is tracking.
Earlier, the Nikkei business daily reported that the government would nominate academician Ueda for the BoJ’s top job, sending the yen soaring across the board as markets speculated on a possible early end to ultra-easy monetary policy.
The dollar fell as low as 129.8 yen, a one-week low, but later fell 0.5% to 130.92 yen. The euro and sterling lost more than 1% against the Japanese currency, but then traded down 0.8% to 140.13 and 158.23 yen, respectively.
The dollar index rose 0.1% to 103.32 units, accumulating a weekly rise of 0.4%, which would mean its second consecutive week of gains, a streak it has not had since October.
The pound was steady at $1.2112 after the UK managed to avoid a technical recession, while the euro was down 0.4% at $1.0699, on course for its second straight week of losses.
Source: Ambito
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