Japan Statistics Bureau released National Consumer Price Index (CPI) for June, rising to 3.3% YoY from 3.2% versus 3.5% expected on early Friday.

Further details unveil that the National CPI ex Fresh Food matches 3.3% YoY forecasts, improving from 3.2% prior, whereas the National CPI ex Food, Energy eases to 4.2% expected figures compared to 4.3% previous readings.

The recently downbeat Japan inflation data justifies Thursday’s defense of the Bank of Japan’s (BoJ) ultra-easy monetary policy by Japan Prime Minister (PM) Fumio Kishida.

Market reaction

USD/JPY extends reversal from the weekly high following the data, refreshing the intraday low near 139.90 while printing the first daily loss in four.

Also read: USD/JPY rises back above 140.00 following US data