USD/JPY eases below 134.00 on upbeat Japan inflation, Ueda’s first BoJ eyed – by anilpanchal7 USDJPY BOJ Inflation Fed RiskAversion
That said, Tokyo Consumer Price Index came in 3.5% YoY for April versus 2.6% expected and 3.3% prior whereas Tokyo CPI ex Food, Energy, known as the Core CPI, also increased to 3.8% YoY during the said month compared to 2.9% market forecasts and 3.4% previous readings. Further details of the publication revealed that Japan’s Unemployment Rate rose to 2.8% in March versus 2.5% expected and 2.6% prior whereas the Jobs/Applicants Ratio eased to 1.32 from 1.34.
As a result, Friday’s BoJ becomes crucial for the USD/JPY pair traders as the aforementioned catalysts may allow the BoJ Governor Having witnessed the initial market reaction to the Tokyo inflation numbers, USD/JPY pair traders are likely to wait for the BoJ decision even if the Japanese central bank isn’t expected to alter the current monetary policy and has already ruled out hawkish moves in the near future. The reason could be linked to Kazuo Ueda’s first meeting as a Governor and the presence of the economic forecasts for release.
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