Hot US Inflation Drags the Yen Close to 160. Will Japan Step In Again?
The dollar climbed to 159.94 yen early Thursday in Tokyo, its strongest level in more than two months. Hot US inflation data and rising bets on a Federal Reserve (Fed) rate hike drove the move. That leaves the yen just short of 160, a level markets watch for signs of Japanese intervention. Japan spent a The post Hot US Inflation Drags the Yen Close to 160. Will Japan Step In Again? appeared first on BeInCrypto.
Key Takeaways
- The dollar climbed to 159.94 yen early Thursday in Tokyo, its strongest level in more than two months.
- Hot US inflation data and rising bets on a Federal Reserve (Fed) rate hike drove the move.
- That leaves the yen just short of 160, a level markets watch for signs of Japanese intervention.
Summary generated by IndiCrypto from BeInCrypto. IndiCrypto is a news aggregator and does not provide investment advice. Read the original article for full context.
More in Web3
‘Roadmap is Complete,' Cardano Founder Charles Hoskinson Says
Cardano's ADA token is down almost 95% from its all-time high, and investors don't seem to be happy that the roadmap is complete.
From $6 to $6.9 million: Two dormant Bitcoin addresses wake up to move 100 BTC after more than 16 years
Two Bitcoin whale addresses moved 100 BTC worth $6.89 million after more than 16 years of dormancy on Friday.
Strive CEO on Bitcoin Plunge: Pullbacks Are a Good Time to Increase Exposure
Bitcoin’s latest decline has brought its price close to its 200-week moving average of approximately $68,000, a level…