Nothing mixed about the yen’s performance, however. It is decidedly weak today (USD/JPY +1.3% to 141.82) following a Bloomberg report that indicates BOJ officials don’t see much of an urgent need at this point to address the side effects of the yield curve control program.
This report comes in front of the BOJ policy meeting next week, so it has tamped down speculation about a shift in policy at that meeting.
Japan’s June CPI was up 3.3% yr/yr, which was a little weaker than expected but still comfortably above the BOJ’s 2.0% target.
Japan’s June National CPI 3.3% yr/yr (expected 3.5%; last 3.2%) and Core CPI 3.3% yr/yr (expected 3.3%; last 3.2%)