The Japanese yen has continued its decline, trading at 158 per dollar on Thursday, marking its fourth straight session of losses. This depreciation is primarily driven by rising US inflation, which has strengthened the dollar. The dollar index has surged this week following reports that US wholesale inflation recorded its fastest increase since 2022. Additionally, consumer inflation accelerated to 3.8% in April, the highest level since May 2023. As a result, market participants have fully discounted the possibility of any Federal Reserve rate cuts this year and are increasingly anticipating another rate hike before the end of the year. In contrast, the Bank of Japan's April meeting summary indicated discussions among policymakers regarding potential rate increases, although the outlook for Japan's inflation remains complicated by higher oil prices and global uncertainties.