Trump's Interest Rate Comments Boost US Dollar

USD/JPY jumped to near 154.20 on Monday as the US Dollar strengthened in response to comments from President Trump.

The President said that interest rates should be the lowest in the world, a shift from his previous criticism of former Fed Chairman Jerome Powell for not reducing interest rates.

Trump's remarks coincided with an increase in hawkish bets for the Federal Reserve's monetary policy announcement on Wednesday, following the release of hot US consumer and producer inflation reports.

The Bank of Japan is also expected to raise interest rates this week, which could further impact the pair's performance.