Mitsubishi UFJ: Fed meeting notes and Fed Chairperson Powell's speech will determine the future direction of the yen

Mitsubishi UFJ said the yen could appreciate further against the dollar if the Fed's meeting notes this week and Fed Chairperson Jerome Powell's remarks on Friday depress Treasury yields. Analyst Derek Halpenny said in a note that the meeting notes could provide an indicator of how much interest rate cuts are expected in September. Powell's remarks at the Jackson Hole symposium on Friday could also indicate that the Fed is preparing to cut rates. These events are important in determining whether the recent dollar-yen decline signals a period of broad dollar weakness. (Golden Ten)