Geopolitical tensions and rising oil prices counterbalance softer US inflation data, keeping the yen near historic lows.
The Japanese yen remains near 40-year lows, trading at 162.85 against the US dollar, as geopolitical risks and elevated oil prices limit gains. Soft US consumer inflation data provided only temporary relief, failing to sustain upward momentum for the currency.
The yen has struggled in recent weeks, with the 162.00 level acting as a key resistance point. Market participants are monitoring developments in the Middle East and energy markets, which have historically influenced yen volatility.
No immediate market reaction was reported, though traders remain cautious amid broader risk sentiment.