The yen has surpassed the significant 150 level against the dollar, indicating that market expectations for a narrowing yield gap between the US and Japan in the coming month have increased.

The Japanese currency has gained as much as 1%, reaching 149.999, which is its strongest position since October. This increase follows the release of Tokyo's consumer price data, which exceeded analysts' predictions. The reduced liquidity due to the closure of US markets for Thanksgiving likely intensified market movements, contributing to the volatility in currency trading.

These developments suggest that investors are increasingly considering potential shifts in monetary policy and economic conditions in both countries.