Japanese Yen Little Changed Following Strong CPI Data, BOJ on Tap
- Japanese consumer prices rose 0.7% in September for both headline data and excluding fresh food
- The Japanese Yen saw little to no change following the data release which met analyst expectations
- This release of Japanese CPI marks two months of the strongest gains in prices since March 2015
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The Japanese Yen saw little to no change following the release of national consumer price data for the month of September. All three CPI figures released met analyst expectations, with headline prices rising 0.7 percent as expected. Consume prices excluding fresh food also rose 0.7 percent, as expected. Both headline consumer prices, and prices excluding fresh food rose 0.7 percent over the last two months, signaling two months of the strongest gains in inflation since March 2015.
Despite the relatively firm data, the Japanese Yen and local bond yields did not react extensively. As the week comes to a close traders may be shifting their focus to next week’s Bank of Japan policy meeting, followed by a press briefing with Governor Kuroda. The BOJ will also be releasing its semiannual Outlook Report at next week’s meeting.
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