Yen Little Changed After CPI Shows Drop

The Japanese yen was little changed after a report showed that Japan’s deflation persisted despite the efforts of the Japanese central bank.
The national core Consumer Price Index fell 0.5% in July from a year ago whole Tokyo core CPI was down 0.4% in August. Both indicator fell slightly more than analysts had anticipated but at the same rate as in the previous reporting period. Yet the yen little moved after the negative data as traders were reluctant to enter the market ahead of the important meeting in Jackson Hole.
USD/JPY traded at about 100.45 as of 8:41 GMT today after opening at 100.51. EUR/JPY was near its opening level of 113.43.

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