The Japanese Yen pares gains as US PCE data strengthens the Dollar, pushing USD/JPY to 159.41 from an intraday low.
The Japanese Yen (JPY) surrendered earlier gains against the US Dollar (USD) Wednesday after US inflation data reinforced the Dollar’s strength. USD/JPY climbed to 159.41, recovering from an intraday low near 159.00.
Traders reacted to the latest US Personal Consumption Expenditures (PCE) figures, which influenced expectations for Federal Reserve policy. The Yen had initially advanced on broader risk sentiment but reversed course as the Dollar firmed.
Market focus remains on inflation trends and their implications for monetary policy, with the Fed’s next moves in sharp view.