The Japanese Yen edges higher against the US Dollar but stays near historic lows despite softer US inflation figures.
The Japanese Yen (JPY) posted modest gains against the US Dollar (USD) on Wednesday, trading at 162.14, down 0.07% for the session. The move follows weaker-than-expected US inflation data, which weighed on the Greenback but failed to lift the Yen significantly.
The USD/JPY pair remains near multi-decade lows, reflecting persistent pressure on the Yen despite recent dollar weakness. Analysts note that the Yen’s recovery has been limited by ongoing monetary policy divergence between the Bank of Japan and the Federal Reserve.
Markets are closely watching for further signals on US rate cuts and potential intervention by Japanese authorities to support the currency.