| The Japanese yen weakened toward 158 per dollar on Thursday, marking its fourth consecutive session of losses as rising US inflation strengthened the dollar and reinforced expectations that the Federal Reserve could keep interest rates higher for longer. The dollar index climbed sharply this week after US wholesale inflation recorded its fastest increase since 2022, while consumer inflation accelerated to 3.8% in April, the highest level since May 2023. Markets have now fully ruled out any Fed rate cuts this year and are increasingly pricing in the possibility of another rate hike before year-end. Meanwhile, the Bank of Japan's April meeting summary showed policymakers discussing the potential for further rate increases, although higher oil prices and global uncertainty continue to complicate Japan's inflation outlook. Powered by Capital Market - Live News |