Tokyo ex fresh food & energy CPI 1.9% y/y
Tokyo CPI remains capped by 2% with ex fresh food & energy at 1.9% y/y. Headline CPI for June arrived at 1.7% y/y while ex fresh food rose 1.6% y/y. It seems to suggest underlying inflation is gathering momentum with consumption recovery and energy cost being spread among business.
USD/JPY is little changed at 161.80 as market participants are unsure where to go from here.