The USD/JPY pair holds steady near 159.05 during the early Asian session on Friday. Growing speculation that the Bank of Japan (BoJ) could raise interest rates next month offsets the weaker Gross Domestic Product (GDP) data. The preliminary readings of the US Purchasing Managers Index (PMI) will be in the spotlight later on Friday.
Data released by Japan Statistics Bureau on Friday showed that the National Consumer Price Index (CPI) inflation climbed to 2.0% YoY in July from 1.6% in June (revised from 1.7%).
Meanwhile, the core CPI, which includes energy-related items but excludes volatile fresh food prices, rose 1.8% YoY in July, compared to…
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