Yen Ends Near ¥152.9 to the Dollar After CPI Jolt Fades

Overview

• The New York close put the dollar at ¥152.85–¥152.95, about 31 sen stronger against the yen from the prior day.
• During Tokyo trading the yen weakened as higher U.S. long-term yields widened the Japan–U.S. rate gap, with a brief move to the ¥153 level for the first time in two weeks.
• U.S. September CPI rose less than expected, boosting market bets on Fed cuts and briefly lifting the yen toward roughly ¥152.5 per dollar.
• Later in New York, reassurance about the U.S. economic outlook saw dollar buying return, retracing the CPI-driven yen gains into the close.
• The euro traded near ¥177.6–¥177.7, and some market participants said expectations the BOJ might forgo a rate hike added to yen softness.