USD/JPY leaping on this. Inflation undershooting estimates and likewise the prior month’s readings.
Tokyo CPI +2.9% y/y
- anticipated 3.2%, prior +3.4%
CPI excl recent meals +2.2%
- anticipated 2.3%, prior 2.5%
CPI excl meals and vitality +1.9%
- anticipated +2.0%, prior +1.9%
USD/JPY marked larger, the reasoning being it takes off some strain for nearer-term BoJ charge hikes:
