Yen slips past 148 as risk appetite rises

The Japanese yen weakened beyond 148 per dollar on Wednesday as a rally in global risk assets cut demand for safe havens. US inflation data boosted expectations of a Fed rate cut next month, with the dollar index steady near 98. In Japan, manufacturer sentiment improved for a second month in August after a trade pact with Washington lowered US tariffs on cars and goods to 15% in exchange for a $550 billion Japanese investment package. Meanwhile, producer price growth slowed to an 11-month low in July, highlighting tariff pressures, while BOJ policymakers remain divided on the timing of future rate hikes.

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