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Eliin approaches largest weekly rise since September
The Japanese yen experienced a significant rise, marking its largest weekly gain since early September, supported by safe-haven inflows amid the absence of market risks and a decline in U.S. Treasury yields. The dollar remained stable near its lowest levels in three weeks. The yen reached 156.08 per dollar before settling at 156.89, achieving a weekly return of 0.7%. This comes amid expectations that the currency pair will continue trading between 155 and 159 yen, with rising prospects of Japanese interest rate hikes during the upcoming central bank meeting, particularly after Japan's core inflation rate exceeded the bank's target for the first time in nine months. Data also showed the dollar remaining steady at 101.64, gold continuing its stabilization, and the Chinese yuan approaching its highest level in four years.
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