ForexLive Asia-Pacific FX news wrap: USD/JPY bounces from 142.00

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USD/JPY
tested
briefly under 142.00 in the hour after the Japanese inflation data
today. The data showed the CPI once again elevated well above the
Bank of Japan's 2% target rate. This is a regular event, of course.
USD/JPY has since rallied to around 142.50 on a bounce.</p><p>The
USD was up a little more widely also. EUR, AUD, and NZD all dipped back a few points.
</p><p>On
the central bank front we had the minutes of the Bank of Japan
October meeting. While this is old news there was nothing much in
them to indicate any imminent pivot from the Bank. Members of the
policy board did discuss communication strategies when they (eventually?) decide
to exit from easy policy.</p><p>We
still have the European and US sessions to come, with US inflation
data (PCE indicators of inflation). Check out the post on the US PCE
ranges to watch, a result outside the range of market expectations
should prompt an extended move.</p><p>And
thats it from me – I wish everyone a wonderful Christmas. If you
don’t celebrate the day have a great break anyway, and go ahead and
eat way too much 😉 . I’ll catch you
all on the 27th for light coverage into the New Year,
after which we’ll all hit it hard again!</p>

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