Published: 2024-02-27T05:52:05.000Z
USD/JPY flows: Headline and ex fresh food CPI Stays on 2%
FX Analyst
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Japan January Headline y/y CPI 2.2% from 2.6% in December , ex fresh food 2.0% from 2.3% and ex fresh food & energy at 3.5% from 3.7%.
The January National CPI, all three items, stays above 2% BoJ target. Headline y/y CPI coming in at 2.2% from 2.6% in December , ex fresh food 2.0% from 2.3% and ex fresh food & energy at 3.5% from 3.7%. The Japan inflation picture continue to moderate and move closer to BoJ target. However, ex fresh food and energy CPI remains a tough nut to crack and maybe on BoJ's mind for a while. Still, all eyes are on March wage negotiation as the result will have a higher impact than CPI currently.
USD/JPY moved lower by 0.13% to 150.48 as U.S. Treasury Yields move lower and JGB yields higher.