Japan June CPI, headline +3.3% y/y (expected +3.5%)

The data is:

• final Japan inflation report before next week’s BOJ meeting

The two core measures are both as expected. USD/JPY is barely changed.

These numbers really shouldn’t shift the needle on what to expect from the Bank of Japan meeting next week (i.e nothing).

Earlier posts:

• Governor Ueda and his officials at the Bank have been … insisting that inflation is transitory and does not necessitate a move away from easy policy

• Bank of Japan Governor Ueda comments this week have watered down YCC tweak expectations
• October is now the month most cited as the likely timing for a BOJ policy change

And this from this morning:

• Former Japan Yen intervention boss – BOJ won’t tweak yield curve control (YCC) next week

This article was written by Eamonn Sheridan at www.forexlive.com. Source