BoJ Trimmed Mean Core CPI y/y comes in at 2.7% against 2.7% consensus

Japan’s BoJ Trimmed Mean Core CPI year over year was reported at 2.7%. This figure matched the consensus expectation of 2.7%. The previous reading for this indicator was also 2.7%, resulting in a 0.0% surprise versus consensus.

Following the release, JPY crosses showed varied movements in the first 15 minutes. AUDJPY moved -8.1 pips, CADJPY moved -4.4 pips, CHFJPY moved -6.4 pips, EURJPY moved -8.6 pips, and GBPJPY moved -8.4 pips. NZDJPY moved -4.4 pips, and USDJPY moved +2.0 pips. For NZDJPY and USDJPY, these initial moves were smaller than their respective median 1-hour moves of 5 pips. For other pairs, the 15-minute moves were larger than their median 1-hour moves, which range from 4 pips to 7 pips after past releases.