The Japanese Yen edges higher after US inflation data meets expectations, easing pressure on the US Dollar.
The Japanese Yen gained modest ground against the US Dollar on Thursday after US Personal Consumption Expenditures (PCE) data matched market expectations. USD/JPY traded slightly lower, reflecting a mild retreat in the greenback following the release.
The Yen remains near 40-year lows despite the uptick, as broader market sentiment continues to weigh on the currency. Analysts had anticipated the PCE figures, which showed inflation in line with projections, reducing immediate pressure on the Federal Reserve to adjust policy.
At publication, USD/JPY hovered around [price level], with minimal volatility observed in early trading.