The yen surged against the U.S. dollar to the upper 141 range in New York on Thursday, a level unseen since late September.
The yen stayed in the lower 144 level in early New York trading but briefly advanced by nearly 4 yen within about one hour after the release of the latest consumer price index showing an easing of inflation, which fueled prospects that the U.S. central bank may slow the pace of its interest rate hikes.
The year-on-year inflation pace for October came to 7.7 percent, falling below 8 percent for the first time in eight months, according to the U.S. Labor Department.
The data apparently encouraged investors to expect a narrowing of the gap in borrowing costs between the two countries and buy the Japanese currency, analysts said.
At 10 a.m., the yen was quoted at 142.03-13 to the dollar.
