The yen is approaching the critical 160 mark against the US dollar, once again increasing the pressure on the Tokyo authorities to support the local currency. The yen fell 0.8% overnight to 159.94, breaking through the narrow fluctuation range maintained in recent weeks. The US CPI data for October showed that inflation exceeded expectations, and the market is betting that the Federal Reserve will increase its efforts to raise interest rates and push the US dollar index higher. The yen rebounded slightly by 0.1% to 159.63 in early Asian trading on Thursday. Japan's top official for exchange rate affairs, Jun Mimura, said he strongly felt that the foreign exchange market had fluctuated too much in the past few days.

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