USD/JPY has finally dribbled a little lower on the session. Its back under 140.00. Which is not overly significant, for sure. It is a big round number and a bit of a reference point only.
The inflation report was a hot one, for Japan. Its rekindled talk of a BOJ pivot, the first step of which would most likely be a relaxation of yield curve control. Countering this, of course, is the continued insistence from Bank of Japan Governor Kuroda that the high (again, for Japan) levels of inflation are transitory and he won't be responding with policy change.
Goldman Sachs Japan inflation graph:
