Yen Dips to Weakest Since 2008 Against Euro, Eyes 145 Per Dollar
- Japan first intervened last year when yen neared 146 per USD
- Yen extends losses against euro after US inflation data
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The yen fell to the weakest against the euro since 2008 on Thursday, extending losses after tame US inflation data and putting traders on guard for jawboning from Japanese officials.
The currency set fresh session lows against the euro, falling as much as 0.9% to 159.21, after US consumer pricing data strengthened bets that the Federal Reserve will hold rates steady at its September meeting. The yen initially gained against the greenback following the release, only to reverse course and slip about 0.5% to around 144.40. The closely watched level of 145 per dollar is in reach if losses extend. The last time it hit that mark was at the end of June.