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The Economic Times
The Economic Times
Business

Yen wobbles near 40-year low as dollar pauses for breath

United States US Federal Reserve Inflation

The yen tottered near its weakest level against the dollar in 40 years early in Asia on Friday as traders reined in bets for Federal Reserve rate hikes after U.S. inflation met forecasts and central bank officials sent mixed signals about the policy path ahead.

The Japanese currency was flat against the dollar at 161.82 yen, edging back from a two-year nadir of 161.95 on Thursday. Breaching the 161.96 mark ‌would take it ⁠to its ⁠weakest level since 1986. The yen was little changed after data showed on Friday that core inflation in Tokyo accelerated in June in line with forecasts.

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