Dollar Steadies, Yen Teeters Ahead of Key US Inflation Data
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Dollar steadies, yen wavers ahead of key US inflation data
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FOREX-Dollar steadies, yen teeters ahead of key US inflation data
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The dollar steadied on Wednesday in the wake of more strong U.S. economic data, nudging the Japanese yen closer to a test of levels that drew official market intervention back in 2022. The yen traded at 151.52 per dollar early in the Asia session, within a whisker of 151.94 where Japanese authorities stepped in during October 2022 to buy the currency. For the quarter ending later this week the yen is the worst-performing major, down more than 7% on the dollar even after Japan's exit last week from negative interest rates.