Hotter US producer inflation lifts the dollar, pushing the yen to a near-term low against the greenback in early Asian trade.
The USD/JPY pair climbed to around 160.25 in early Asian trading Friday, supported by stronger-than-expected US Producer Price Index data. The hotter PPI print bolstered the US dollar, weighing on the Japanese yen.
US producer inflation exceeded market expectations, reinforcing recent trends of persistent price pressures. The yen had already faced downward pressure amid diverging monetary policy outlooks between the Federal Reserve and the Bank of Japan.
No immediate market reaction details were provided, but the move reflects broader dollar strength following the data release.