EUR/JPY hovers around 167.00 with a positive bias during the Asian session on Friday.
EUR/JPY remains steady after the release of the softer inflation data on Friday. The Tokyo CPI increased by 2.2% YoY in July, slightly down from the previous 2.3% rise. The Euro may face challenges as the ECBremains uncertain about its policy outlook. The EUR/JPY cross holds mild gains after the Statistics Bureau of Japan released the Tokyo Consumer Price Index data on Friday. The headline Tokyo CPI for July increased by 2.2% year-over-year, slightly down from the previous 2.3% rise.
Headline inflation is usually expressed as a percentage change on a month-on-month and year-on-year basis. Core inflation excludes more volatile elements such as food and fuel which can fluctuate because of geopolitical and seasonal factors. Core inflation is the figure economists focus on and is the level targeted by central banks, which are mandated to keep inflation at a manageable level, usually around 2%.
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