- Japan’s CPI comes in at 3.6% Y/Y for June vs. 3.5% Expected, 3.7% Prior
- Japan’s Core CPI comes in at 2.3% Y/Y for June as Expected vs. 2.2% Prior
- Japanese Yen Relatively Unchanged as Headline Number Meet Expectations
The Japanese Yen remained relatively unchanged against its global counterparts as Japan’s National Bureau of Statistics released the county’s inflation figures for the month of June. The National CPI came in at 3.6 percent, slightly higher than market expectations of 3.5 percent and lower than last month’s 3.7 percent. The Core CPI figure, came in at 2.3 percent, meeting market expectations and slightly higher than last month’s 2.2 percent.
The Japanese Yen’s lack of directional movement likely reflects the CPI figures’ print in line with market expectations, which may have been priced in ahead of the release. The core CPI is the headline figure which is closely watched by traders. This number is significant as it excludes the effect of food and energy, which are seen as particularly volatile and so may obscure underlying price-growth trends.
USDJPY [5 mins – 07/24/2014] Created using FXCM Marketscope