Investors in Asia will also look toward the Fed decision on Wednesday night stateside, which will come after the country's May inflation report on Wednesday
Early Friday, the yen also strengthened against the dollar after the U.S. inflation data release, prompting analysts and traders to suspect a possible intervention from the country's ministry of finance.
On Friday, Japan's top currency diplomat Masato Kanda said that authorities will take action as needed in the foreign exchange market.Kentaro Takahashi| Bloomberg | Getty Imagesin about three years and giving the Federal Reserve more impetus to lower rates.Core inflation — which strips out food and energy costs, increased 0.1% monthly and 3.3% from a year ago, compared with respective forecasts for 0.2% and 3.4%.after the U.S.
The yen traded at 158.55 against the U.S. dollar at roughly 12 a.m. Tokyo time after trading around 161.52 late Thursday.On Friday, Japan's top currency diplomat Masato Kanda said that authorities will take action as needed in the foreign exchange market. Reuters also reported that Kanda said recent yen moves were somewhat rapid, but declined to comment on whether authorities had intervened in the currency.slid 1.57% on Friday, leading losses in Asia after three straight days of setting new closing highs and reaching an all-time high on Thursday. The Topix also retreated, falling 1.08%.rose 0.23%, surpassing its all time closing high of 7,896.9 set on March 28 and just shy of its all time high.Overnight in the U.S.
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