A recent development has provided support for the yen. Japan's services PMI has reached a five-month high, which is notable. This increase is also relevant to inflation, as it appears to be strengthening.

The strengthening inflation has implications for a potential hike by the Bank of Japan, often referred to as the BOJ. This is the case that has been strengthened by the recent inflation and services PMI data.

Further details about Japan's services PMI and its impact on the BOJ's potential actions can be found through investingLive.