USD/JPY Climbs to 160.55 as Yen Slumps to Six-Week Low
Hotter-than-expected US inflation data reinforces Fed rate-hike bets, pressuring the Japanese Yen to its weakest level in six weeks. The Japanese Yen fell to a six-week low against the US Dollar, with USD/JPY rising to 160.55 in early Asian trading. The move follows a stro