US Dollar Surges Against Yen Amid Persistent Inflation Risks

The US Dollar has surged against the Japanese Yen, pushing the USD/JPY pair to a two-week high near 157.85 during the European session on Wednesday.

This comes as Fed officials continue to warn of persistent inflation risks due to energy shocks and strong demand.

The US Dollar Index (DXY) has posted a fresh seven-week high near 100.89, with strategists at ING attributing this to the 'dominant' Fed story and hawkish Fedspeak keeping the USD in demand.