Yen rises after release of slower U.S. consumer inflation data
TOKYO -- The Japanese yen strengthened to 154.74 against the dollar after Wednesday's release of U.S. consumer inflation data for April.
The Japanese currency had been trading around the 156 level even after the government likely intervened to shore up the yen in late April and early this month. Wednesday's surge took the yen to its highest level since May 8.