Japanese Yen Flatlines Near Multi-Decade Low After CPI Data
USD/JPY holds near 163.90 as the yen remains close to its weakest level in decades. Markets await US S&P Global PMI data later today.
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The USD/JPY pair traded near 163.90 during early Asian hours on Friday, with the Japanese yen stuck around multi-decade lows against the US dollar. The move follows recent CPI inflation data from Japan, though the pair showed little reaction.
Traders are now turning attention to the preliminary US S&P Global Purchasing Managers Index (PMI) readings scheduled for release later in the session. The data could provide fresh impetus for dollar/yen after the yen’s prolonged weakness.
Source: FXStreet Forex News