• USD/JPY ascends following a US inflation report indicating reacceleration, challenging levels that might prompt intervention.
• Rising inflation figures push Treasury yields higher and boost the US Dollar.
• Market anticipates future Fed actions with keen interest in upcoming monetary policy minutes.

The USD/JPY rallied to an almost 34-year high after a hotter-than-expected inflation report in the United States (US) sent US Treasury yields soaring. Consequently, the major climbed past the 152.00 figure, seen as a level that could trigger intervention, which so-far hasn’t happened. At the time of writing, the pair trades at 152.70, gains 0.90%.