USD/JPY flows: Quick dip did not last

Japan National October headline CPI came in stronger at 2.3% y/y, moderating from 2.5% in September. Ex fresh food and energy rose to 2.3% from 2.1% y/y. It would be favorable for our call of a December BoJ hike. USD/JPY dipped to 153.96 in early Asia after the release.

But the dip did not last and see USD/JPY retraced to 154.46 currently.