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Yen strengthens as Tokyo inflation beats expectations

USD/JPY was last around 157.90 during Asian hours Friday after Tokyo’s headline CPI rose 2.7% year-over-year in September.

Reported · Written up by our desk · Major Pairs

The Japanese yen strengthened in Asian trading, pulling USD/JPY lower after Japan’s Tokyo inflation data came in hotter than expected, according to FXStreet.

FXStreet cited Statistics Bureau of Japan data showing Tokyo’s headline Consumer Price Index rose 2.7% year-over-year in September, up from 1.9% in the prior month.

The report also pointed to faster underlying inflation, with the CPI excluding fresh food rising to 2.7% year-over-year and the core-core index excluding both fresh food and energy jumping to 3.0% year-over-year.

FXStreet added that Japanese Finance Minister Satsuki Katayama said the government plans to intensify efforts on a Japanese adaptation of government efficiency reviews, targeting about 200 existing funds valued at roughly 7 trillion yen.

Latest closeUSD/JPY 157.40 ▲0.0%

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