Yen Strengthens to About 157.90 as Tokyo Inflation Accelerates
The yen firmed to around 157.90 per dollar after Tokyo inflation accelerated. Markets are also balancing higher energy prices against expectations for a more measured Fed tightening path.
USDJPY
Markets are balancing rising energy prices against expectations for a more measured Federal Reserve tightening path.
The yen strengthened to around 157.90 per dollar after Tokyo inflation accelerated and Japan's 10-year yield fell to 3.05%. Investors are also watching Middle East developments, particularly oil flows through the Strait of Hormuz.
These factors leave currency and energy markets sensitive to inflation data and supply risks.
Source: First Squawk