Golden Ten Data on August 26, Macquarie strategists Gareth Berry and Thierry Wizman believe that the Federal Reserve's recent interest rate cut signal will push the yen to rebound, and the yen will rise to 135 against the dollar by the end of the year. Fed Chair Powell's speech in Jackson Hole "set the stage for a months-long rebound in the yen." The Fed's rate cut will weaken the Forex spreads earned by JPY SHORTS and encourage Japan investors to fill their FX hedging positions. In addition, strategists expect the yen to rise above 120 against the dollar within two years.

UK inflation data improvement supports the decision of the Central Bank of the UK to cut interest rates. The Macquarie Group believes that inflation is moving in the right direction, and service sector data has also improved. Singapore forex and interest rate strategists expect the pound sterling to reach 1.30 against the US dollar in the middle of next year and maintain this level. It is believed that the political background has changed positively, and the pound sterling will reach 1.32 by the end of next year.