The Japanese Yen (JPY) surrendered its modest intraday gains against the US Dollar (USD) during Thursday’s trading session, following an earlier uptick during Asian hours. The initial strength in the JPY came as a reaction to a slight dip in Japan’s Producer Price Index (PPI), which suggested waning inflationary pressures. However, any momentum was quickly capped amid diminished expectations for near-term Bank of Japan (BoJ) rate hikes, leaving the currency exposed to selling pressure. The brokers at Fimatron offer a comprehensive breakdown of this topic in their article. Cooling Inflation and Domestic Concerns Pressure BoJ Policy Outlook Japan’s PPI data...
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