Japanese yen trades near two-month low

The yen hovered around 150 per dollar on Friday, its weakest level in nearly two months, pressured by broad dollar strength after solid US data reduced expectations for deeper Federal Reserve rate cuts.

Thursday’s figures showed weekly jobless claims fell to 218K, underscoring labor market resilience, while second-quarter GDP growth was revised up to an annualized 3.8%, the fastest in almost two years.

In Japan, Tokyo’s core inflation rose 2.5% in September, steady from August but below forecasts of 2.8%.

Minutes from the Bank of Japan’s July meeting signaled policymakers remain inclined to raise rates further if growth and prices evolve as expected.

At its September meeting, the BOJ kept rates unchanged but recorded two dissents, suggesting additional tightening may be approaching.