Institution: As concerns about the U.S. economic recession fade, the yen is set to record a weekly decline

ChainCatcher news, the yen rose slightly against the dollar on Friday, but it is expected to record its biggest weekly decline since June. A series of economic data released earlier in the United States has eased concerns about an economic recession and supported bets on a gradual easing of monetary policy by the Federal Reserve.

Salman Ahmed, Global Head of Macro and Strategic Asset Allocation at Fidelity International said: "We believe that economic growth is slowing down and inflation is also slowing down. The Fed will start cutting interest rates, but there won't be a panic situation like one or two weeks ago when panic was spreading. We still think we'll see 2-3 rate cuts, more likely 2 rather than 3 unless we see a continued rise in unemployment from our last jobs report."