Yen Under Pressure as Traders Eye Key US Inflation Data, Dollar Nears 33-Year High Against Japanese Currency
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The yen was under pressure as traders awaited U.S. inflation data that could push the dollar to highest vs yen since 1990.
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The dollar stood at 151.68 yen, near a one-year high. A break past 151.94 would mark a fresh 33-year high.
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Yen briefly jumped Monday attributed to trading in options expiring this week rather than intervention.
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Japan intervened last year to boost yen after BOJ maintained ultra-loose policy. Intervened again in Oct 2022 when yen hit 32-year low.
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Focus also on U.S. inflation figures today that will provide clarity on Fed's interest rate path after trying to push back on expectations they are done with hikes.