USD/JPY Surges Towards 30-Year High Amid US Inflation Concerns

The USD/JPY pair is nearing its thirty-year peak as the US Dollar continues to gain against the Japanese Yen. The Bank of Japan's reluctance to join the global interest-rate hikes has weakened the Yen throughout the year. The focus is now on the US side of the pair, with key US inflation figures expected to be released on Tuesday. Strong inflation data could lead to further rate hikes and a surge in the US Dollar. Gross Domestic Product figures from Japan are also expected to be weak, which will further weigh on the Yen.