The Japanese Yen (JPY) strengthens a bit against its American counterpart during the Asian session on Tuesday and reverses a part of the previous day's losses back closer to the YTD low touched earlier this month.
Japanese Yen found modest strength in Asian session today, lifted by stronger than expected consumer inflation data from Japan. At the same time, two-year yield climbed to its highest point since 2011 while Nikkei is steady. The data intensified speculations around BoJ's move to abandon its negative interest rate policy. Almost all economists are expecting a rate hike in the first half of the year, with April still tagged as the most probable timing. However, the CPI raises the chance of an expedited move in March.