Regarding the speech by Bank of Japan Deputy Governor Himino (氷見野 良三), there is a possibility that indications of a September rate hike will emerge, while a weaker yen and weaker dollar are expected over the long term.
In a review of the foreign exchange market on 26 August, the US July PCE deflator was reported at 3.7% year on year, with core PCE at 3.3%, prompting buying of the dollar. The S&P 500 fell 0.02%, while the Nasdaq Composite fell 0.08%.
Attention is now focused on a speech by Bank of Japan Deputy Governor Himino (氷見野 良三) as part of the outlook for investment strategy. Meanwhile, Governor Ueda (植田 和男) is absent from the Jackson Hole symposium.
The article points to broad weakness in fiat currencies due to the effects of inflation and, from the perspective of fiscal risk, suggests the possibility of a stronger euro as a relative move among European currencies.