The yen languished near a 38-year low on Thursday and struggled on the weaker side of 160 per dollar, keeping markets on alert for any signs of intervention from Japanese authorities to prop up the currency.
Asian stocks stuttered in choppy early trade on Wednesday as markets braced for a key U.S. inflation reading, while the yen lurked just shy of 160 per dollar level, keeping traders on alert for another round of intervention by Japanese authorities.
Oil prices fell slightly in Asian trade on Wednesday, extending steep losses from the prior session amid lingering doubts over global demand, especially as data pointed to an unexpected build in U.S. inventories.
The dollar was firm on Wednesday and trading on the precipice of the 160 yen barrier as investors turned cautious and counted down to the release of U.S. price data at the end of the week.
Asian shares were subdued on Tuesday while the battered yen hit a record low versus the euro, although the risk of intervention stemmed further weakness against the U.S. dollar.
Indonesia's budget deficit is forecast to increase this year and may widen further as President-elect Prabowo Subianto implements his policy agenda, but revenue-side reforms could keep the gap under the legislated ceiling, the World Bank said on Monday.