Asian Currencies Rise as Dollar Weakens, Yen at Multi-decade Lows

Asian currencies rise as the dollar hits a two-month low following weaker-than-expected U.S. inflation data. Traders are closely watching US inflation data, anticipating a potential drop in the yen to a 33-year low. Japanese authorities are prepared to intervene if necessary. Most Asian currencies weakened as the dollar gained before the release of key U.S. inflation data. The Japanese yen is near a three-decade low against the dollar, with the Bank of Japan's ultra-easy monetary policy at odds with higher rates elsewhere.