USD/JPY flows: PPI Steadies

The Japan April PPI increased 0.2% m/m and 4% y/y, continue to suggest rising input cost. While the magnitude of transferal to CPI has been slow, it continues to point towards more input cost for the Japanese business owners. 

USD/JPY is trading 0.26% lower at 147.08 with JGB yields outperform U.S. counterpart.