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The USD\/JPY pair<\/a> edges lower to near 144.60 during the early Asian session on Thursday. The weakening of the US Dollar<\/a> (USD) amid rising bets on a jumbo interest rate reduction from the US Federal Reserve (Fed) in November continues to weigh on the pair. Investors await economic data and signals on upcoming interest rate cuts from Fed officials.<\/p>\n Data released by the Commerce Department showed on Wednesday that US New Home Sales fell 4.7% MoM to 716,000 in August from a revised 751,000 in July, above the market consensus. Earlier this week, a weaker-than-expected US consumer sentiment report raised concerns about the health of the labor market, prompting the expectation of further deeper rate cuts by the Fed.\u00a0<\/p>\n Traders have priced in nearly 57.4% odds of a 50 basis points (bps) cut by the Fed in the November meeting, while the chance of a 25 bps reduction stands at 42.6%, according to the CME FedWatch Tool. The Fed Chair Jerome Powell’s speech will be in the spotlight on Thursday. Also, the final US Gross Domestic Product (GDP) Annualized for the second quarter (Q2) is due later in the day, and the figure is estimated to grow by 3.0%. Any indication of additional jumbo rate reduction by the Fed<\/a> or signs of weakness in the US economy might drag the Greenback lower in the near term.\u00a0<\/p>\n On the other hand, the Bank of Japan (BoJ)\u00a0releases minutes of its July policy meeting on Thursday. The BoJ members called for a gradual and timely rate increase. Many members said it was appropriate to raise the interest rates to 0.25%, adjusting the degree of monetary support and few members said it was appropriate to adjust the degree of monetary support moderately.<\/p>\n