The Japanese yen weakened to around 147.3 per dollar on Monday, giving back gains from the previous session despite hawkish comments from Bank of Japan Governor Kazuo Ueda. Speaking at the Federal Reserve’s Jackson Hole conference on Saturday, Ueda said wages in Japan are expected to rise further amid a tightening labor market, signaling confidence that conditions for another interest rate hike are coming together. The BOJ has paused its rate hike cycle due largely to concerns over the impact of US tariffs on Japan’s export-driven economy. At its July meeting, the central bank held rates steady but raised its inflation forecasts and delivered a more upbeat economic outlook, sustaining expectations for another rate increase later this year. Meanwhile, the yen had rallied 1% on Friday after Fed Chair Jerome Powell signaled openness to rate cuts.