Japan: More bad news for the sitting government on the eve of a general election. The latest economic data makes for bad reading with CPI now running at -2.2% YoY with July core CPI posting the biggest fall on record.
The JPY has weakened slightly on this news with EUR/JPY popping back up through the overnight high at 134.40. This pair looked so bearish yesterday but not today. Hearing of some light selling interest around 134.80/00 which should slow down any major moves higher.
