The headline Tokyo Consumer Price Index (CPI) for July rose 2.2% YoY, compared to a 2.3% rise in the previous reading, the Statistics Bureau of Japan showed on Friday.
The headline Tokyo ConsumerPrice Index for July rose 2.2% YoY, compared to a 2.3% rise in the previous reading, the Statistics Bureau of Japan showed on Friday. Meanwhile, the Tokyo CPI ex Fresh Food, Energy increased1.5% YoY, compared to the previous reading of 1.8% rise. Additionally, Tokyo CPI ex Fresh Food rose2.2% for the said month and in line with the market consensus. Market reaction to the Tokyo Consumer Price Index As of writing, theUSD/JPYpair was down 0.26% on the day at 153.55.
The BoJ has directly intervened in currency markets sometimes, generally to lower the value of the Yen, although it refrains from doing it often due to political concerns of its main trading partners. The current BoJ ultra-loose monetary policy, based on massive stimulus to the economy, has caused the Yen to depreciate against its main currency peers.
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