Mitsubishi UFJ: Hot U.S. inflation lifts dollar, yen comes under pressure

ChainCatcher reports, citing Finviz, that Mitsubishi UFJ analyst Michael Wan said the yen has emerged as the most pressured currency as the dollar regains strength after U.S. inflation data came in above expectations. USD/JPY slid to around 157.88, close to the May 6 peak. Markets are pricing in additional Federal Reserve tightening, driving the 10-year U.S. Treasury yield to its highest level since July last year, while the 30-year yield climbed above 5%.