Poor data hits a holiday market
USD/JPY is trading at the lowest since November 16 after a weak and (to a lesser extent) soft retail sales numbers.
CPI report
The pair is down 43 pips to 108.67; that’s the worst since mid-November. That decline understates the magnitude of the miss in the inflation report. Prices fell 0.3% in the month compared to a flat reading expected. On the core measure, prices were up 2.0% y/y compared to 2.3% expected.
