Yen rebounds after high inflation data in Japan

•The US dollar resumes losses against a basket of currencies. •Becent hints at further intervention in the bond market. •Core inflation accelerated in Japan in July. • Prospects of a Japanese interest rate hike in September rise.

The Japanese yen rose in the European market on Friday against a basket of major and minor currencies, to rebound again against the US dollar, benefiting from the losses of the US currency after it hinted...

Treasury Secretary Scott Besent called for more intervention in the US bond market.

Data released today in Tokyo showed that core inflation accelerated in Japan during July, explaining the growing inflationary pressures on monetary policy makers at the Central Bank of Japan, which enhances the prospects of raising Japanese interest rates next September.

Expectations about the performance of the Japanese yen. We expect here on the “FX News Today” website: The yen may lose

The Japanese share of its current gains against the US dollar, if the bond market ignores the comments of US Treasury Secretary Scott Besent, and long-term yields resume their upward path.

The three major US stock indexes closed sharply lower on Thursday, with investors' appetite for risk declining due to rising Treasury yields, while disappointing results for Walmart, one of the most prominent companies in the retail sector, raised concern.

Investors are concerned about the consumer sector, and the rise in oil prices has exacerbated concerns about inflation.

The Canadian dollar rose to its highest level in about three months against its American counterpart during Thursday's trading, at a time when Canadian bond yields rose, amid investors' assessment of the impact of rising oil prices, in addition to growing hopes for the possibility of reaching a trade agreement between Canada and the United States.