The Japanese yen strengthened to around 143.6 per dollar on Friday and was set to advance more than 1% for the week, underpinned by hotter-than-anticipated inflation data.
Japan's core inflation rate accelerated more than expected to 3.5%, the highest in over two years. This reinforces expectations that the Bank of Japan will continue tightening monetary policy in response to sustained inflationary pressures.
Meanwhile, the headline inflation rate remained steady at 3.6%. The yen also benefited from a general weakness in the dollar amid concerns about the US fiscal outlook.
Elsewhere, Japanese Finance Minister Katsunobu Kato said earlier this week he did not discuss exchange rate levels with US Treasury Secretary Scott Bessent during the G7 meetings in Canada, downplaying speculation of coordinated currency intervention.
Source: trading Economi
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