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\n Share:<\/span><\/p>\n The US Dollar (USD) recovers some ground against the Japanese Yen (JPY), after posting back-to-back days of losses, as market sentiment turned upbeat on an earnings report of a big tech US company. Nevertheless, US Federal Reserve officials remained hawkish as the waters settled, while economic data from the United States (US) was mixed. At the time of writing, the USD\/JPY<\/a> is trading at 149.86, gaining 0.70%.<\/p>\n After an absence of one day, Federal Reserve officials are taking the stance as the Jackson Hole Symposium<\/a> commences. Recently, Boston Fed President Susan Collins commented<\/a> the Fed \u201cmay be\u201d at a place to hold rates steadily to curb inflation towards its 2% target in a \u201creasonable amount of time.\u201d She said that more rate hikes are possible, and it\u2019s premature to signal the timing of rate cuts.<\/p>\n Earlier, Philadelphia Fed President Patrick Harker<\/a> stated the Fed must keep its restrictive stance and added the Fed has probably done enough but must hold rates at the current level. He noted that inflation must fall to pave the way for rate cuts while acknowledging an eventual economic slowdown.<\/p>\n Before Wall Street opened, the US Department of Commerce revealed Durable Goods Orders for July plummeted sharply from 4.4% to -5.2% MoM, exceeding estimates. However, excluding transport orders rose 0.5% MoM, above the consensus and June\u2019s 0.2%. In other data, the US Department of Labor revealed the labor market remains tight, as shown by unemployment claims for the week ending August 19, which rose by 230K, below estimates of 240K and 9K below the previous week.<\/p>\n\n
USD\/JPY gains 0.70% on Fed\u2019s restrictive stance, despite US mixed data<\/h2>\n