Dollar Takes a Hit as Markets Eye Inflation Report
The US dollar weakened against the yen on Thursday as investors looked ahead to the upcoming inflation report, which is expected to provide insight into future interest rate decisions.
The yen rose 0.3% to reach 162.88 against the dollar, but traders noted that this increase seemed unaffected by any Japanese intervention in response to the currency's historic lows.
Earlier, the dollar had experienced gains against major currencies after reports of US airstrikes in Iran, which pushed investors towards safe-haven assets.