Japanese yen muted on Wednesday
The Japanese yen traded around 147.5 per dollar on Thursday, holding steady for a third straight session as investors awaited US consumer inflation data that could strengthen expectations for deeper Federal Reserve rate cuts.
US producer prices unexpectedly fell in August, easing concerns over persistent inflation and giving the Fed more scope to lower borrowing costs.
In Japan, business sentiment improved in the third quarter, supported by a sharp rebound in exports as firms accelerated shipments to the US ahead of newly imposed 15% blanket tariffs.
Separate data showed producer prices rose 2.7% year-on-year in August, quickening from a revised 2.5% gain in July.
On the political front, markets continued to weigh the impact of Prime Minister Shigeru Ishiba’s resignation, which followed deepening divisions within the ruling party and mounting pressure after his defeat in last year’s national election.
UCapital Asset Management LLP or group companies may have commercial relationships with the companies mentioned. This content is not financial advice.
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