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Yen Marginally Firmer After Headline, Core CPI Tick Higher

FOREX

The Yen is marginally firmer in early dealing on Friday, June's National CPI printed showing a uptick in headline CPI to 3.3% Y/Y from 3.2%. The Core measure was as expected at 3.3% Y/Y as was the core-core at 4.2% Y/Y.

  • USD/JPY is down ~0.2% and last prints at ¥139.75/85. Support comes in at ¥137.5, low from July 14, resistance is seen at yesterday's high (¥140.39).
  • AUD/USD is a touch lower, down ~0.1%. The pair sits a touch above lows seen in yesterday's NY session and last prints at $0.6770/75. Support comes in at $0.6754, the low from 19 July.
  • Kiwi is also marginally lower, however moves remain limited with a 15 pip range persisting thus far.
  • Elsewhere in G-10 EUR is a touch firmer as is CHF however ranges remain narrow.
  • Cross asset wise; e-minis are down ~0.1% and BBDXY is down ~0.05%. Regional equities are lower in early trade after TSMC cut its annual revenue outlook.
  • The docket is thin on Friday with UK Retail Sales the only data of note.

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