• The yen weakened past 150 per dollar for the first time since November, prompting the strongest pushback from Japanese officials in months, as hotter-than-expected US inflation doused bets on an early US interest rate cut.
• The Japanese currency was around 150.73 against the dollar early Wednesday in Tokyo after a 1% plunge overnight that was part of a broader slide in G-10 currencies against the dollar. The continued strength in US prices buoyed speculation that the Federal Reserve will need to keep interest rates at two-decade highs for several more months.