The yen edged up against the dollar on Friday but was expected to post its biggest weekly drop since June after a slew of U.S. economic data eased recession fears and supported bets on a gradual easing of monetary policy by the Federal Reserve, according to 10JinData.
Salman Ahmed, global head of macro and strategic asset allocation at Fidelity International, said that economic growth and inflation are slowing down, and the Fed will start to cut interest rates, but there will be no panic. He expects the Fed to cut interest rates 2-3 times, most likely 2 times, unless the unemployment rate continues to rise.