Yen on back foot after US inflation data, euro buoyed by Ukraine peace talks
U.S. dollar held near a one-week high against the Japanese yen on Thursday after a hotter-than-expected consumer prices reading, while the euro was shored up by news that Washington aims to begin talks with Russia to end the war in Ukraine.
U.S. President Donald Trump also said he would soon impose reciprocal tariffs on every country that charges duties on U.S. imports, keeping alive fears of a widening global trade war that threatens to accelerate U.S. inflation.
Against the yen, the dollar was down 0.06% at 154.33, not far off Wednesday's high of 154.80 hit as U.S. Treasury yields climbed following inflation reading.
U.S. consumer prices increased by the most in nearly 1-1/2 years, up by 0.5% in January versus the previous month, while core index rose by 0.4%. Both were expected to rise by 0.3%.
Headline consumer price added 3.0% for the year, while core prices rose at an annual pace of 3.3%.
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