Japanese Yen

The dollar softened after May CPI matched forecasts, easing Fed hike bets while the euro steadied and yen traders watched intervention risk.

The dollar eased from recent highs as haven demand cooled, but CPI risk and Fed rate expectations kept pressure on the euro and yen.

The dollar holds near a two-month high as traders await U.S. CPI, ECB guidance and Japan policy risks after a stronger May jobs report.

The dollar’s post-payroll rally puts USD/JPY above 160, forcing forex traders to price Fed patience against Japan intervention risk.