The US dollar slipped as markets continued to price in a September Fed rate cut, with USD/JPY dropping to near 146.40 amid dovish expectations and remarks from US Treasury Secretary Bessent. Strong Australian jobs data boosted the AUD, while sterling hit a three-week high and crypto extended gains.US Treasury Secretary Scott Bessent criticised Bank of Japan - says its time to hike ratesChina's July economic data are due on Friday August 15 - previewFederal Reserve Bank of Richmond President Thomas Barkin speaking Thursday August 14, 2025People’s Bank of China is expected to remain cautious on interest rate cutsThe Australian dollar has jumped alongside the huge surge in full time employment dataAustralia July 2025 Unemployment rate 4.2% (vs. 4.2% expected)PBOC sets USD/ CNY reference rate for today at 7.1337 (vs. estimate at 7.1743)Yen up, Nikkei down, JGBs more or less flatGBP/USD climbs as BoE seen firm, Fed seen cutting ratesChina to host "Anti-US summit" following the Trump-Putin Alaska meetingAustralian stockmarket up at the opening following Wall Street's leadJPMorgan warns tariffs could shave GDP, lift inflationMUFG sees dollar under pressure as rate cut bets, low volatility boost carry tradesBitcoin has jumped above US$123K, +30% YTD (a bit more!)UK housing market slows on tax and rate uncertainty — RICS surveyJapan survey: Firms welcome US tariff pact, half see room for more price hikesFed Chair Powell has two choices at Jackson Hole, either one will disappoint y'allTrump considers BlackRock’s Rieder for Fed Chair - Trump likes Rieder's 50bp cut callOil traders heads up, here's what will trigger a plunge in Brent crude oil to the low $60sHong Kong's central bank FX intervened again to support the HKD, sells even more USD/HKDGoldman Sachs say again that they expect three Federal Reserve rate cuts by end 2025investingLive Americas FX news wrap 13 Aug: Fed officials are cautious but markets are notNASDAQ and S&P close at new records. Indices recover from declines in up and down sessionFed's Goolsbee: Need more comfort on inflation, every meeting liveThe yen was active during the session, with yen crosses rising. USD/JPY slid to lows near 146.40. The move reflected broad US dollar weakness amid rising expectations for a September Federal Reserve rate cut, with the widely anticipated 25bp move joined by increased talk of a possible 50bp reduction. Selling pressure on USD/JPY was compounded by remarks from US Treasury Secretary Scott Bessent, who not only criticised the Fed but also took aim at the Bank of Japan, calling it “behind the curve” and urging it to raise rates to control inflation.Earlier, Chicago Fed President Austan Goolsbee struck a cautious note on September easing. While open to the idea of a cut, he stressed that the FOMC needs to see several months of favourable inflation before acting. He pointed to persistent services price pressures in the latest CPI and said the Committee was not yet convinced the labour market is deteriorating despite some signs of softness.In Australia, labour force data was the main event. The unemployment rate dipped to 4.2% in July from 4.3% in June, while full-time employment posted its strongest monthly gain in 17 months. AUD/USD jumped as market pricing for a September RBA rate cut eased to around 30% from 40% before the release.Elsewhere, GBP/USD touched a three-week high, supported by diverging Fed–BoE policy expectations, while the crypto complex extended gains, with Bitcoin and Ethereum both rallying on a mix of Fed easing hopes and strong inflows.Asia-Pacstocks:Australia(S&P/ASX 200) +0.55%HongKong (Hang Seng) +0.05%ShanghaiComposite +0.36%Japan(Nikkei 225) -1.5% This article was written by Eamonn Sheridan at investinglive.com.