Institution: As concerns about a U.S. economic recession fade, the yen is set to record a weekly decline

ChainCatcher news indicates that the Japanese yen rose slightly against the US dollar on Friday, but is expected to record its largest weekly decline since June. This follows the release of a series of economic data from the United States that eased concerns about a recession and supported bets on a gradual easing of monetary policy by the Federal Reserve.

Salman Ahmed, Global Head of Macro and Strategic Asset Allocation at Fidelity International, stated: "We believe that economic growth is slowing, inflation is also slowing, and the Federal Reserve will begin to cut interest rates, but there will not be a panic situation. Just a week or two ago, panic was still spreading. We still believe that we will see 2 to 3 rate cuts, most likely 2 rather than 3, unless we see a continued rise in the unemployment rate as seen in the last employment report." (Jin Ten)