USD/JPY jumping on this. Inflation undershooting estimates and also the prior month’s readings.

Tokyo CPI +2.9% y/y

• expected 3.2%, prior +3.4%

CPI excl fresh food +2.2%

• expected 2.3%, prior 2.5%

CPI excl food and energy +1.9%

• expected +2.0%, prior +1.9%

USD/JPY marked higher, the reasoning being it takes off some pressure for nearer-term BoJ rate hikes:

This article was written by Eamonn Sheridan at www.forexlive.com.