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    Yen slides past 152 per dollar, raising speculation of Japanese intervention

    Synopsis

    Dollar was pushed to its highest against the Japanese currency since 1990. Markets are alert to any signs of intervention from the Japanese authorities to prop the yen.

    This photo illustration taken on April 10, 2024 shows Japanese yen coins and 10,000 yen notes on display in TokyoAFP
    The yen weakened on Wednesday, pushing the dollar to its highest against the Japanese currency since 1990, with markets alert to any signs of intervention from the Japanese authorities to prop the yen.

    This followed the latest U.S. inflation data, which showed the Consumer Price Index (CPI) rose 0.4% on a monthly basis in March, compared with the 0.3% increase expected by economists polled by Reuters. Annually it increased 3.5% versus a 3.4% estimated growth.

    Excluding volatile food and energy components, the core figure rose 0.4% month-on-month in March, against expectations of a 0.3% advance. Annually, it gained 3.8%, versus the estimated 3.7% increase.

    The dollar was last up 0.4% at 152.41 yen, having touched 152.47, the highest since mid-1990.

    The dollar index was up 0.7% at 104.7.


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    (You can now subscribe to our ETMarkets WhatsApp channel)

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    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

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