Japan April Tokyo CPI ex-fresh food +3.4% vs +3.2% expected ...Middle East

First reading above 3% since July 2023Prior was +2.4%Overall CPI 3.5% vs 2.9% priorEx food and energy 2.0% y/y vs 1.1% priorEx food and energy +0.7% m/m vs +0.4% prior

USD/JPY was trading higher by 27 pips to 142.90 ahead of the report. This is a yen positive (i.e. USD/JPY negative) but there has been little reaction in the aftermath. Ueda earlier highlighted a goal of returning to sustainable 2% inflation and expressed worries about the trade war.

This article was written by Adam Button at www.forexlive.com.

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