Asian stocks subdued on yen caution, US inflation in focus

Highland Gold Maple making syrup from Cape Breton woods for 25 years | SaltWire #capebreton #mapleSYDNEY - Asian stocks were muted as investors kept watch for possible intervention by Japanese authorities to stop the yen's decline and awaited U.S. inflation data later on Wednesday for clues to future interest rate moves.

However, further weakness in the Japanese currency could prompt authorities to intervene, especially if the yen breaks 152 per dollar. U.S. consumer price data due on Wednesday will be closely watched by investors as they seek direction on the next move in interest rates. The data is expected to show a rise in headline inflation to 3.4% year-on-year, from 3.2% in February.

Source: News Formal (newsformal.com)

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