The US dollar reached its highest level against the yen since mid-1990 due to unexpectedly high US inflation data.
The US dollar surged to its highest level against the yen since mid-1990, after hot US inflation data led traders to expect fewer interest rate cuts from the Federal Reserve this year. The Consumer Price Index (CPI) rose 0.4% on a monthly basis in March, significantly higher than the 0.3% increase expected by economists. The dollar's gain also came as other major central banks began monetary easing.
April 10, 2024
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