Yen hits seven-month high; dollar drifts before CPI — SkimNews
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- The yen surged to a seven-month high against a drifting dollar as traders awaited US inflation data
- The yen's rally broke above the level that triggered prior intervention — its strongest since February — putting bearish yen positions under pressure
- Traders stayed on watch for fresh signs of Japanese currency intervention as the yen hit a six-month high
Why it matters: The yen clearing its prior intervention-trigger level means the Bank of Japan/MoF threshold that previously halted the rally has now been surpassed without a visible official response — leaving currency officials with a choice between tolerating further yen strength or stepping in again ahead of the US inflation print that will reset the dollar's direction.
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