Japanese Yen Hits 6-Week Low Near 160.50 on US Inflation Report
USD/JPY rises to around 160.55 as the yen weakens to a six-week low after a hotter US inflation report raises expectations for higher Fed rates.
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The USD/JPY pair edged higher to approximately 160.55 during early Asian trading on Thursday, pushing the Japanese yen to a near six-week low against the US dollar.
The move follows a strong US inflation print that fueled speculation the Federal Reserve will maintain higher interest rates for longer. Traders are also monitoring potential intervention risks as the yen approaches levels that previously triggered official comments from Japanese authorities.
No immediate intervention has been reported, but market participants remain cautious near the 160.50 threshold.
Source: FXStreet Forex News