US dollar slumps up against yen, Fed rate cut expectations strengthen

According to Jinshi data, the US dollar gave up some of its uptrend against the yen. The inflation data previously released basically meets market expectations, strengthening the Fed's view that it will cut interest rates at next week's policy meeting. In addition, the higher-than-expected number of initial unemployment benefits has also put pressure on the dollar, suggesting that the U.S. job market may weaken.