Data from Japan showed Tokyo inflation a touch lower. USD/JPY is back above 146.

<p>The 3 data items of inflation from Japan (Tokyo) were published earlier. 2 of 3 dripped a little lower from the previous month while core-core was unchanged at 4%. All 3 remained well above the Bank of Japan's 2% target. </p><ul><li><a href="https://www.forexlive.com/centralbank/all-tokyo-area-august-cpi-data-comes-in-way-above-the-2-boj-target-rate-again-20230824/" target="_blank" rel="follow" data-article-link="true">All Tokyo area August CPI data comes in way above the 2% BOJ target rate. Again.</a></li></ul><p>I mentioned in that post how the Bank of Japan has been insistent that they expect inflation in Japan to soon begin to fall. Forecasters from the bank glag September / October and when the decline is likely to begin. The data today seems supportive of that asseertion. National inflation data will be published in around 3 weeks for August, the Tokyo data is much more quickly collected nd collated. </p><p>USD/JPY had edged a little higher, if inflation in Japan is transitory, as the BOJ say, then their ultra-loose policy looks locked in for a little while longer. </p><p>150 in sight? What say the good folks of ForexLive (in the comments, please!).</p>

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