LONDON/NEW YORK: 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 per cent on a monthly basis in March, compared with the 0.3 per cent increase expected by economists polled by Reuters. Annually it increased 3.5 per cent versus a 3.4 per cent estimated growth.
Excluding volatile food and energy components, the core figure rose 0.4 per cent month-on-month in March, against expectations of a 0.3 per cent advance. Annually, it gained 3.8 per cent, versus the estimated 3.7 per cent increase.
The dollar was last up 0.4 per cent at 152.41 yen, having touched 152.47, the highest since mid-1990.
The dollar index was up 0.7 per cent at 104.7.