The US dollar modestly reduced its advance against the yen

On Friday, the dollar’s rise against the yen moderated following the release of U.S. inflation data, which aligned with predictions. This supports the view that the Federal Reserve may postpone interest rate reductions until later in the year.

According to the latest figures, the Personal Consumption Expenditures (PCE) price index experienced a 0.3% uptick in March, matching the anticipated increase. Over the 12-month period ending in March, the PCE inflation rate climbed to 2.7%, slightly above the 2.6% projection.

The dollar recently traded at 156.87 yen, marking a 0.8% increase. This comes after it reached a new 34-year peak of 156.92 earlier. Meanwhile, the dollar index trimmed its earlier gains and was last recorded at a steady 105.65.