The yen jumped more than 1% against the U.S. dollar to a six-week high on Friday after faster-than-expected inflation in Tokyo supported bets for a Bank of Japan interest rate hike next month. The dollar dipped slightly against its peers in trading thinned by the U.

The Japanese yen rose to a six-week high against the dollar Friday. While trading was thin because of the Black Friday holiday in the U.S., the moves are still worth watching after volatility in the Asian currency sparked market turmoil earlier this year.

The yen rallied on Friday after forecast-busting inflation data out of Tokyo boosted talk of another Japanese interest rate cut next month, while