Yen Weakens Against Majors Amid Strong US Business Activity Index

The Japanese yen weakened against other major currencies in the European session on Thursday.

This move came after the release of the US business activity index, which showed a much greater-than-anticipated reading.

The improved economic outlook increased expectations that the Federal Reserve will hike interest rates once more this year, reducing anticipation that the interest rate difference between the US and Japan would close anytime soon.