{
  "id": 11372110,
  "title": "Japanese Yen rises due to hot Tokyo CPI, dovish Fed bets",
  "url": "https://urgent.news/2026/10/02/japanese-yen-rises-due-to-hot-tokyo-cpi-dovish-fed-bets",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-02T06:00:32.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/japanese-yen-rises-due-to-hot-tokyo-cpi-dovish-fed-bets-202610020600"
  },
  "original_language": "en",
  "account": "The Japanese Yen (JPY) experienced a surge on Friday following unexpectedly strong inflation data from Tokyo and expectations of a dovish stance from the Federal Reserve (Fed). According to Japan's Statistics Bureau, the Tokyo Consumer Price Index (CPI) rose by 2.7% year-over-year in September, surpassing forecasts and continuing an upward trend from the previous month's 1.9%. Inflation measures excluding fresh food surged to 2.7% YoY, while the core-core index excluding both fresh food and energy increased to 3.0% YoY. Japanese Finance Minister Satsuki Katayama announced plans to boost government efficiency reviews, targeting around 200 funds valued at 7 trillion yen to streamline public spending. Economy Minister Minoru Kiuchi emphasized the importance of communication between the government and the Bank of Japan (BoJ) regarding future economic policy. The USD/JPY pair declined as a result of the stronger Yen, falling to around 157.90 during Asian trading hours. A broader softening in the US Dollar (USD) also contributed to the JPY's rise, as markets priced in less than a 28% chance of a Fed rate hike at the October meeting. Despite the USD/JPY weakness, the Greenback may retain support due to ongoing inflation concerns and expectations of a potential Fed rate hike in December. Market participants remain focused on upcoming macroeconomic releases, including the US Nonfarm Payrolls report, where economists anticipate slightly lower job growth than the previous month's 162,000.",
  "summary": "USD/JPY declines after two days of gains, trading around 157.90 during Asian hours on Friday. The Japanese Yen (JPY) gained momentum following stronger-than-expected inflation data from Tokyo, putting downward pressure on the pair.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "The Mainichi",
        "title": "Tokyo stocks open lower as gains locked in after Nikkei surge",
        "url": "https://urgent.news/2026/10/02/tokyo-stocks-open-lower-as-gains-locked-in-after-nikkei-surge",
        "published": "2026-10-02T00:44:11.000Z"
      },
      {
        "outlet": "FXStreet",
        "title": "Japanese Yen draws support from hot Tokyo CPI as USD bulls await US NFP report",
        "url": "https://urgent.news/2026/10/02/japanese-yen-draws-support-from-hot-tokyo-cpi-as-usd-bulls-await-us",
        "published": "2026-10-02T04:21:23.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}