The yen extended losses to a fresh 38-year low Friday, putting investors on guard for a possible intervention by Japanese authorities ahead of the release of key US inflation data later in the day.
A woman walks past an electronic board?displaying the exchange rate for the Japan ese yen against the US dollar in Tokyo on June 27, 2024.HONG KONG, China —
On Thursday, finance minister Shunichi Suzuki added that "we have strong concerns" about the yen's weakness and "necessary measures" would be taken if needed. The report is tipped to show a further slowdown in prices, though there is a fear that a forecast-busting reading could dent hopes for a cut this year, while a lower-than-expected figure could ramp up bets for more than one before January.
France's weekend first-round legislative polls were also in view, with President Emmanuel Macron's centrist alliance facing defeat to a surging far right, whose spending plans could put Paris on course for a standoff with the European Union. The yen, weakened by the Japanese government's easy monetary policy, hit a 38-year low against the dollar on Wednesday, sparking...
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