FILE PHOTO: Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. REUTERS/Florence Lo/Illustration/File Photo
By Alun John and Gertrude Chavez-Dreyfuss
LONDON/NEW YORK (Reuters) – 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.
(Reporting by Alun John in London and Gertrude Chavez-Dreyfuss in New York; Editing by Dhara Ranasinghe and Andrew Heavens)
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