USD/JPY flows: April CPI Remains Elevated

The Japan April National Headline CPI remains elevated at 3.6% y/y, ex fresh food at 3.5% y/y while ex fresh food % energy come in at 3% y/y. The BoJ is stuck now with rising inflationary pressure and U.S.-Japan trade complication, putting them in a difficult spot. It is likely the BoJ will not move until there is more clarity in the trade front.

USD/JPY is trading 0.12% lower at 143.83.