Japan’s consumer price inflation likely to have remained unchanged at 0.4 pct in July – Wells Fargo

Following the solid Japanese economic growth for the second quarter recorded last week, the upcoming consumer price inflation figure for July is expected to carry slight more weight than normal in a nation that has had its issues with keeping inflation close to or above its pledged target of 2 percent, noted Wells Fargo in a research report. The year-on-year consumer price inflation rate has steadied at 0.4 percent since April 2017 and the July rate is expected to have stayed the same at 0.4 percent, stated Wells Fargo.

The Bank of Japan is unlikely to change its view about monetary policy any time soon even if other developed nations’ central banks have either begun to take monetary accommodation away or are moving in that direction, added Wells Fargo.

At 22:00 GMT the FxWirePro's Hourly Strength Index of Japanese yen was bullish at 81.5447, while the FxWirePro's Hourly Strength Index of US Dollar was bearish at -81.176. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest