LONDON: The yen weakened on Wednesday, pushing the dollar to its highest against the Japanese currency since 1990, with markets alert to any signs of intervention from the Japanese authorities to prop the yen.
This followed the latest U.S. inflation data, which showed the Consumer Price Index (CPI) rose 0.4% on a monthly basis in March, compared with the 0.3% increase expected by economists polled by Reuters. Annually it increased 3.5% versus a 3.4% estimated growth.
US dollar flat to slightly lower
Excluding volatile food and energy components, the core figure rose 0.4% month-on-month in March, against expectations of a 0.3% advance. Annually, it gained 3.8%, versus the estimated 3.7% increase.
The dollar was last up 0.4% at 152.41 yen, having touched 152.47, the highest since mid-1990.
The dollar index was up 0.7% at 104.7.
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