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Fundamental Forex Analysis

Japan’s Core CPI drops 0.2% YoY in May vs. -0.1% expected, USD/JPY battles 107.00

According to the latest data published by the Statistics Bureau of Japan on Friday, the National Consumer Price Index (CPI) rose by 0.1% YoY in May versus +0.1% expected and +0.1% seen in April.

Japan’s core consumer prices (ex-fresh food), a leading indicator of nationwide inflation, dropped 0.2% in May from a year earlier, missing expectations of -0.1%.

Meanwhile, the country’s core inflation figure (ex-food and energy) accelerated by 0.4% YoY in May vs. +0.2% expected and +0.2% last.

Market reaction

The yen continues to lose ground on the mixed inflation data, as USD/JPY regain 107.00 ahead of the BOJ minutes.

The spot, currently, adds 0.08% to trade at daily highs of 107.06.

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