JPY steady, fading modest CPI-driven gains – Scotiabank

The Japanese Yen (JPY) is entering Friday’s NA session flat vs. the US Dollar (USD), having faded the modest gains that had surrounded the overnight release of national CPI figures, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

Inflation supports hawkish BoJ

"While the headline print was in line with expectations at 3.5% y/y, the core measures surprised modestly to the upside. The release ultimately provides confirmation to a hawkish-leaning BoJ and offers little in terms of altering our expectations for fundamental, policy-driven JPY strength."