Japanese Yen Strengthens on Intervention Warning, Cooling US Inflation
USD/JPY drops to near 162.15 during Asian hours as the yen gains after Japanese officials issued a verbal intervention warning and US inflation data eased.
USDJPY
The Japanese Yen strengthened against the US Dollar in Asian trading on Thursday, pushing USD/JPY down to around 162.15.
Traders cited a verbal intervention warning from Japanese authorities as a key factor supporting the yen. Additionally, cooler-than-expected US inflation figures reduced expectations for further Federal Reserve tightening, weighing on the dollar.
The pair remains under pressure as market participants watch for further comments from Tokyo.
Source: FXStreet Forex News