Japanese CPI data shows mixed results as yen continues to decline despite rising JGB yields. USD/JPY approaches 160, raising intervention concerns
Japanese CPI Mostly Positive for the Bank of Japan12-month Japanese CPI for May came in above the prior 2.5%, at 2.8% while core CPI narrowly missed expectations of 2.6% to print at 2.5%. The measure that excludes fresh food an energy, known as ‘core core inflation’, saw a decline from 2.4% to 2.1%.The Bank of Japan still requires convincing to hike rates again this year after calling for a virtuous relationship between inflation and wages.
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