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JGBs slip as Fed comments temper rate cut expectations

TOKYO, June 26 (Reuters) - Japanese government bond prices dipped on Wednesday, mirroring a decline in U.S. Treasury prices, after comments from Federal Reserve Chairman Jerome Powell dimmed expectations of an aggressive U.S. interest rate cut.

Powell on Tuesday said the central bank is "insulated from short-term political pressures," pushing back against U.S. President Donald Trump's demand for a significant rate cut.

Separately, St. Louis Fed President James Bullard told Bloomberg Television he does not think the U.S. economy is dire enough to warrant a 50-basis-point cut in July, even though he pushed to lower rates last week.

Benchmark 10-year JGB futures fell 0.08 point to 153.77, extending a pullback from a record high of 154.13 reached on June 21.

Yield on 10-year cash bonds rose half-a-basis point to minus 0.150%.

The 20-year JGB yield rose 2 basis points to 0.235%.

The 30-year JGB yields climbed 2 basis points to 0.365%.

At the short end of the curve, yields on 2-year government bonds climbed 1 basis point to minus 0.220%. (Reporting by the Tokyo Markets Team, Editing by Sherry Jacob-Phillips)