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Posted 1 hour ago
Japan May CPI Due Friday Amid Yen Weakness, USD/JPY Eyes 2024 Highs
Japan's May CPI headlines the Asia session on June 19, with headline and core inflation having stayed below the BoJ's 2% target for four consecutive months. This follows the BoJ's rate hike earlier this week. BOJ April meeting minutes also release today. Liquidity will be thinner with HK, China, and the US all on holiday.
USD/JPY is the pair to watch, already squeezing toward 2024 highs despite the rate hike. A soft CPI print could further undermine the yen by dampening rate-hike expectations, while a surprise beat may offer JPY some relief.
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