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Tokyo headline July CPI 2.9% (vs. 3% expected)Recap - Tokyo inflation > BoJ target - reinforcing hike expectations late 2025/early 2026Japan's June Services PPI +3.2% y/y, matching expectations of +3.2%None of those data points ague against Bank of Japan rate hikes, and yet the yen is weaker on the session. The BoJ meet next week, but a rate hike is not expected until at least the end of this year.
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