Japan FinMin Suzuki hints at steps to tackle price hike on PM instruction during next week

Anil Panchal FXStreet

“Will consider steps to cope with price hikes after PM instruction expected next week,” said Japanese Finance Minister Shunichi Suzuki during early Friday morning in Asia.

Japan FinMin Suzuki crossed wires after Tokyo inflation data suggested firmer than previous figures for March. That said, Tokyo Consumer Price Index (CPI) rose 1.3% YoY versus 1.5% forecast and 1.0% prior whereas Tokyo CPI ex Food, Energy improved to -0.4% compared to -0.7% market consensus and -0.6% previous readouts.

USD/JPY bulls take a breather

Despite comments favoring further upside, USD/JPY retreats from a seven-year high towards 122.00. The reason could be linked to a pullback in the US Treasury yields during late Thursday.

Read: Investors are aware of the Fed's bark, but are not pricing in their bite just yet

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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