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Pound holds steady versus yen as Tokyo CPI beats expectations
GBP/JPY was flat near 208.55, as Tokyo’s inflation excluding fresh food accelerated to 2.7% year over year.
The British pound traded flat against the Japanese yen, with GBP/JPY around 208.55 as of press time, according to FXStreet.
FXStreet said the yen led among major currency peers on Friday after Tokyo CPI data for September came in stronger than expected.
The report noted that inflation excluding fresh food accelerated to 2.7% year over year from 1.8% in August, versus an estimate of 2.4%.
FXStreet added that the stronger CPI could reinforce expectations for additional interest rate hikes by the Bank of Japan in the near term.