Today's Edition
TOKYO (REUTERS)
The yen hovered close to its May low versus the US dollar on Wednesday, near levels that spurred Japanese currency intervention in recent weeks.
The Australian dollar erased earlier gains against the greenback following cooler-than-expected inflation data.
The New Zealand dollar gained after the Reserve Bank's policy committee signalled that interest rate hikes would likely be necessary in the coming months.
The safe-haven US dollar was steady after edging higher against major peers a day earlier.
The yen crept up slightly to 159.28 per dollar on Wednesday, but remained close to the 160 level that many market participants view as a red line for intervention to support it.
The dollar index, which measures the currency against the yen and five other rivals, was little changed at 99.11 after adding 0.15% on Tuesday.
The euro gained slightly to $1.1637.
The Aussie slipped 0.09% to $0.7160, reversing an earlier gain, after data showed the annual inflation rate cooled to 4.2% in April, compared with 4.6% in March and analysts' forecasts of 4.4%.
New Zealand's dollar jumped 0.6% to $0.5873.
