Currency Buzz: Japanese Yen Hits Fresh Lows Amid Firm Dollar

13 Oct 2022 , 04:56 PM

The Japanese yen languishing near fresh 24-year lows at $146.79 against the dollar as the greenback stayed firm ahead of crucial US inflation data this week that would throw more light into Federal Reserves further course of action. Minutes from the Federal Reserves policy meeting last month showed that officials agreed they needed to raise interest rates to a more restrictive level – and then keep them there for some time – to meet their goal of lowering broad-based and unacceptably high inflation, even as the minutes contained a hint of a downshift in the pace of future monetary tightening. The U.S. dollar index, which measures the greenback against a basket of peers including sterling and yen was at 112.83. Powered by Commodity Insights