Bitcoin (BTC) and the crypto market rebounded on Friday following Federal Reserve (Fed) Chair Jerome Powell's speech at the Jackson Hole Economic Symposium, hinting at a possible rate cut due to the weakening labor market.
The Japanese Yen (JPY) is down 0.2% against the US Dollar (USD) and underperforming all of the G10 currencies with the exception of NOK, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret note.
Federal Reserve (Fed) Bank of Boston President Susan Collins signaled openness to a rate cut as soon as Septemebr, citing tariff pressures and potential labor market weakness despite near-term inflation risks, the Wall Street Journal reported on late Thursday.