2025年8月27日大公：美下月料减息，日圆上望146

Group 1: US Federal Reserve Actions - Federal Reserve Chairman Jerome Powell's recent speech at the Jackson Hole Summit hinted at a potential interest rate cut, surprising the market[1] - Market expectations for a 0.25% rate cut in September have risen to nearly 90% according to Bloomberg interest rate futures[1] - The US Dollar Index fell nearly 1% following the dovish comments from Powell, indicating potential opportunities for other currencies[1] Group 2: Japanese Economic Outlook - Japan's Q2 GDP growth accelerated to an annualized 1%, surpassing market expectations of 0.4%[2] - The Bank of Japan maintained its short-term interest rate at 0.5% during the July meeting, aligning with market forecasts[2] - The Bank of Japan raised its core consumer inflation forecast for the fiscal year from 2.2% to 2.7%, reflecting ongoing food price increases[2] - There are indications from Bank of Japan officials that a rate hike may occur before the end of the year, influenced by the US Federal Reserve's dovish stance[2] Group 3: Currency Trends - The Japanese Yen previously fell to approximately 150.92 against the US Dollar, marking a new low since March, but has since recovered to around 147.6[2] - With the Federal Reserve potentially cutting rates and the Bank of Japan considering tightening, the interest rate differential between the two currencies is expected to narrow, making the Yen attractive for buying at lower levels[2]