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Firms In Early Dealing, 10-Year Yield Deals BOJ Cap

JPY

The Yen has firmed in early dealing as Asia-Pac participants react to the aforementioned Nikkei source reports regarding the potential for tweaks to the BOJ YCC today. The 10 Year Yield rose above the BOJ's 0.5% cap in early dealing before paring gains.

  • A firmer than forecast Tokyo CPI has also aided the bid, headline CPI printed at 3.2% Y/Y a print of 2.9% had been expected. The Core measure was at 3.0% Y/Y vs 2.9% expected.
  • USD/JPY is down ~0.5% sits at touch above yesterday's lows which remain intact for now. The pair last prints at ¥138.80/90.

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