Tokyo CPI Data Lifts Yen Amid Intervention Fears and Bullish Dollar Sentiment
The Japanese Yen has received a boost from hot Tokyo CPI data, which shows consumer inflation accelerated in September. This comes as policymakers at the Bank of Japan debated additional rate hikes to adjust accommodative financial conditions.
The USD/JPY pair edged lower during the Asian session on Friday, trading below 158.00. However, it remains near its weekly high from the previous day.
Traders remain cautious amid speculation that authorities will intervene again to boost the JPY, weighing on the USD/JPY pair. Despite this, the strong bullish sentiment surrounding the US Dollar continues to support it.