USD/JPY slides below 132.00 on mixed Tokyo Inflation data, focus on Fed Chair Powell – by anilpanchal7 USDJPY RiskAppetite BOJ Fed Inflation
Tokyo Consumer Price Index eased below market forecasts, CPI ex Food, Energy matched upbeat expectations.Upbeat Fedspeak, long weekend in Japan allowed Yen bears to take a breather ahead of Fed Chair Powell’s speech.
As per the latest Tokyo inflation data, the headline Consumer Price Index rose by 4.0% versus 4.5% market forecasts and 3.8% previous readings. Further, the Tokyo CPI ex-Food, Energy matched 2.7% YoY forecasts versus 2.5% prior. Given the escalating price pressure in Japan, the odds of the Bank of Japan’s exit from the easy money policy gains momentum and weighs on the USD/JPY. That said, Japanese Prime Minister Fumio Kishida said on Sunday his government and the central bank must discuss their relationship in guiding economic policy after he names a new Bank of Japan governor in April, reported Reuters.
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