The ex- food and energy, known as the ‘core-core’ rate, and closest to US core inflation, remains firmly above 3%, much higher than the Bank of Japan 2% target. The overall, headline, rate is similarly above target at 2.8%
USD/JPY is sitting basically on its post-BOJ high circa 151.85.
I expect we’ll get more verbal intervention from Japanese officials again today.
This article was written by Eamonn Sheridan at www.forexlive.com.
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