Overview

• Dollar–yen traded in the mid to upper ¥147 per dollar range after swings tied to Fed and BOJ signals and U.S. political headlines.
• The Nikkei finished around 42,520, up about 126 points, as semiconductor shares advanced following strength in U.S. tech.
• Fed Chair Jerome Powell signaled the possibility of rate cuts at Jackson Hole, while BOJ Governor Kazuo Ueda highlighted persistent wage pressures, narrowing perceived U.S.–Japan rate differentials.
• Reports that President Trump would remove a Federal Reserve governor spurred yen buying, then the dollar partly rebounded on reports the governor would not resign.
• Commerce Secretary Latnick said an announcement on a U.S.–Japan tariff and investment agreement is expected later this week, with about $550 billion in Japanese investment referenced and details still undisclosed.