Yen strengthens, Japan household spending falls, oil prices dip, Fed may cut rates soon

From “CNBC”:

Yen continues to strengthen after Japan’s largest union agrees to a 6.7% wage hike, reaching a month high of 147.57 against the US dollar. Japan’s household spending fell by 6.3% in January for the 11th consecutive month. Oil prices dipped slightly as the market is influenced by interest rate forecasts. Federal Reserve Chair Jerome Powell suggests that the Fed is close to being ready to cut rates, while Cleveland Federal Reserve President Mester sees more danger in cutting rates prematurely than in keeping rates elevated for too long.



Read more at “CNBC”: Powell testimony; SOTU, Japan household spending