DOLLAR/YEN <JPY=EBS> DROPS AS MUCH AS 2.28%, SET DAY DROP SINCE JANUARY 2023
July 11 (Reuters) -The Japanese yen jumped against the dollar on Thursday after data showed U.S. inflation cooled a lot more than expected the previous month.
Market sources said the selling in the dollar was most likely the result of profit taking after weak U.S. data, yet traders remainon high alert for signs of fresh intervention by Japanese authorities to boost a currency languishing near 38-year lows.
The dollar fell as much as 2.1% to 158.3 yen. JPY=EBS.
"It's certainly a big move but I don't think we can say it's anything to do with intervention," said Societe Generale's head of corporate research FX and rates Kenneth Broux.
"The US CPI has been a trigger and it's more about stops being triggered than intervention."
Reporting by London Markets Team; editing by Dhara Ranasinghe
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