Yen surges to six-week high on signs of easing U.S. inflation

Currency, stock markets react to prospect that Fed will slow rate hikes

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The yen strengthened against the dollar following a report showing that inflation is easing in the U.S. (Photo by Koji Uema)

Nikkei staff writers

TOKYO -- Japan's currency rose sharply against the dollar in New York trading on Thursday, hitting the 140 yen range at one point as new data showed U.S. inflation cooling.

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