Japanese Stocks Rise as Yen Weakens While Investors Await BOJ

-- Japanese stocks rose as the yen weakened after Federal Reserve Chair Jerome Powell cautioned against assuming large rate cuts will continue. Investors are awaiting the Bank of Japan’s decision Friday.Pipe Fire Near Houston Forces Residents to Evacuate

The yen erased gains that were triggered by the Fed’s decision to cut its benchmark interest rate by a half percentage point. Powell signaled at a press conference following the announcement that it’s not in a rush to ease policy. The yen was at 143.18 per dollar, after appreciating to 140.45. Economists expect the BOJ to stand pat when its two-day meeting concludes Friday. Japanese stocks tumbled into a bear market in early August after BOJ’s rate hike and Governor Kazuo Ueda’s hawkish stance at his briefing sent the yen higher.

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