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Fundamental Forex Analysis

Tokyo CPI ex Fresh Food steadies at +0.2% YoY in June vs. +0.2% expected

The consumer expenditure, as represented by the Consumer Price Index (CPI) rose less-than-expected in the Japanese capital of Tokyo in June, according to the latest data published by the Statistics Bureau of Japan on Friday.

The headline Tokyo Consumer Price Index arrived at +0.3% YoY in June vs. +0.6% expected and +0.4% last.

The key Tokyo CPI ex-Fresh Food came in at +0.2% YoY in June vs. +0.2% expected and May’s +0.2%.

Meanwhile, the Tokyo CPI ex- Food and Energy +0.4% YoY in the reported month vs. +0.1% expected and +0.5% previous.

About Tokyo CPI

The Tokyo Consumer Price Index is released by the Statistics Bureau and it’s a measure of price movements obtained by comparison of the retail prices of a representative shopping basket of goods and services. The index captures inflation in Tokyo. CPI is the most significant way to measure changes in purchasing trends. The purchase power of JPY is dragged down by inflation. Generally a high reading is seen as positive.

Market reaction 

The Japanese data failed to have any impact on the yen, with USD/JPY keeping its range trade intact around 107.15 amid holiday-thinned markets. 

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