周三，日元兑美元汇率跌至148，回吐了本周早些时候的涨幅，因为美联储主席杰罗姆·鲍威尔对进一步宽松政策采取谨慎立场后，美元走强。鲍威尔强调，由于美联储面临着在抑制通胀的同时支持疲软的劳动力市场的挑战，降息路径仍不明朗。在国内，数据显示，9月份日本制造业以六个月来最快的速度收缩，而服务业增长放缓至三个月低点。在国内不确定性和全球贸易政策不断变化的情况下，企业继续对前景表示谨慎。展望未来，投资者正在等待东京的通胀数据和日本央行7月份的会议纪要，以获得政策路径的信号。在政治上，执政的自民党将于10月4日选举新领导人，以取代即将离任的首相石破茂。

The Japanese yen weakened toward 148 per dollar on Wednesday, giving back early-week gains as the dollar strengthened after US Federal Reserve Chair Jerome Powell adopted a cautious stance on further policy easing. Powell stressed that the rate-cut path remains unclear as the Fed faces the challenge of curbing inflation while supporting a softening labor market. At home, data showed Japan’s manufacturing sector contracted at the sharpest pace in six months in September, while services growth slowed to a three-month low. Companies continued to express caution over the outlook amid domestic uncertainty and shifting global trade policies. Looking ahead, investors await Tokyo inflation figures and the Bank of Japan’s July meeting minutes for signals on the policy path. Politically, the ruling Liberal Democratic Party will elect a new leader on October 4 to replace outgoing Prime Minister Shigeru Ishiba.