Japanese Inflation Data Impact on USD/JPY; BoJ Meeting Outlook ...Middle East

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Japanese Inflation Data Impact on USD/JPY; BoJ Meeting Outlook
USD/JPY is up from its earlier lows after all the inflation data from Japan this morning:Tokyo area October inflation data: Headline 1.8% y/y (prior 2.2%)Japan September PPI Services (Corporate Services Price Index) 2.6% y/y (expected 2.7%)In Tokyo, core consumer prices rose 1.8% y/y (exp 1.7, prior 2.0), a number below the BoJ's 2% target for the first time in five months. While Tokyo data is not Japan as a whole, it's a reasonable guide and considered a leading indicator. the core-core, which excludes fresh food and energy, and is closest to the US 'core' inflation measure, rose 1.8% y/y, up from 1.6% in September but still, of course, under the 2% targetThe Bank of Japan meet next week (3

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