Japanese Yen barely blinks as Tokyo CPI prints to script
The post Japanese Yen barely blinks as Tokyo CPI prints to script appeared on BitcoinEthereumNews.com. The Yen got the data it had been waiting on, and proceeded to do almost nothing with it. Tokyo CPI for May landed at 1.6% YoY on the headline measure, with the core reading excluding fresh food holding at 1.5% YoY (matching April’s four-year low) and the core-core measure (excluding fresh food and energy) steady at 1.9% YoY. All three came in essentially in line with what positioning desks had penciled in, and all three remain below the Bank of Japan’s (BoJ) 2% target. The Yen’s reaction was a shrug, and that shrug is the entire story. Three measures, no signal The April print had set the bar this low for a reason. April’s collapse in core-core to 1.9% YoY from 2.3% YoY was the print that pushed June hike pricing meaningfully out, and May simply confirmed there was no quick rebound coming. Energy subsidies are still capping petrol prices, food disinflation is filtering through, and th