USD/JPY reverses pullback from yearly top near 140.00 on mixed Tokyo inflation, upbeat yields – by anilpanchal7 USDJPY Inflation BOJ Fed RiskAversion
Tokyo Consumer Price Index eases to 3.2% YoY in May versus 3.9% expected, 3.5% prior.Risk aversion, strong US data puts a floor under the prices.pares intraday losses around the 140.00 round figure, bouncing off the daily low, as it jumps back towards the Year-To-Date high marked the previous day. That said, the Yen pair picks up bids after Japan’s inflation gauge eased during early Friday.
Given the downbeat Japanese inflation, the Bank of Japan policymakers’ defense of easy money policies remains valid and favors the Yen pair buyers. On Thursday, Bank of Japan Governor Kazuo Ueda said that they could tweak the Yield Curve Control strategy if the balance between the benefit and the cost of the policy were to shift, as reported by Reuters.
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