Japanese Yen Weakens as Inflation Slows

The Japanese yen fell during the current trading session as today’s data showed that nation’s inflation slowed. This means that the Bank of Japan may boost monetary stimulus to achieve its target 2 percent inflation.
Japan’s consumer prices (excluding food) rose 0.1 percent in May from a year ago after rising 0.3 percent in the previous month. Tokyo’s core inflation index showed the same 0.1 percent June growth compared to the 0.2 percent increase in May. The yen fell as a result of the data, though it managed to rally against some currencies thanks to the widespread demand for safer assets.
USD/JPY went up from 123.62 to 123.84 as of 14:36 GMT today following the drop to the daily low of 123.22. GBP/JPY advanced from 194.65 to 195.15 following the fall to the session minimum of 193.92 intraday.

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