JPY is trading stronger on the back of solid inflation data, BoJ Gov Ueda comments

The data from Japan is here:

• Japan Services Producer Price Index (April 2025) +3.1% (expected +3.0%, prior +3.1%)

And Ueda here:

• Bank of Japan Governor Ueda – close to inflation target but not quite there

Ueda’s remarks were not overly hawkish (see that link above) but nevertheless the yen has gained ground sharply:

This article was written by Eamonn Sheridan at www.forexlive.com.