Japan’s yen bears brunt of market rethink on Fed

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Reuters UK

By Rae Wee and Vidya Ranganathan SINGAPORE (Reuters) -The Japanese yen fell the most against a recovering U.S. dollar on Friday, as a two-day rally in equities conceded to market expectations that the Fed would have to do a lot more to contain inflation. That realisation followed speeches and statements from a bunch of Federal Reserve officials warning investors against being sanguine after this week’s slight softening in inflation numbers. The latest was San Francisco Fed President Mary Daly, who said on Thursday that a 50 basis point interest rate hike in September “makes sense”, given recen…

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