"US Dollar Reaches 34-Year High Against Yen Amid Inflation Data Surge"
The dollar surged to a 34-year high against the yen following stronger-than-expected US inflation data, prompting speculation about potential intervention by Japanese authorities. Japan's vice-finance minister for international affairs stated that they would not rule out measures to address excessive exchange rate moves, but stopped short of declaring the latest move "excessive." With market expectations for US interest rate cuts pushed out, the large rate differential between the US and Japan is expected to continue putting downward pressure on the yen. Analysts are closely watching for signs of possible official currency intervention by Japan's ministry of finance.
- Dollar hits 34-year high against yen after US inflation data Financial Times
- US dollar surges to new 34-year high vs yen after hotter-than-expected inflation data Reuters
- Japan's FX Chief Warns No Options Ruled Out After Yen Slide Bloomberg
- ICYMI - What to watch in Japanese comments for USD/JPY selling intervention getting closer ForexLive
- Japan warns "all options" on table to counter excessive yen moves Kyodo News Plus
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