USD/JPY above 147.80 after Tokyo inflation drops sharply in January

The inflation data is here:

• Tokyo area CPI data for January +1.6% (prior 2.4%)

Minutes here:

• Bank of Japan December meeting minutes: Agreed to patiently maintain easy policy

USD/JPY has added on points after the inflation data, two of the three measures dropped back under the BOJ 2% target, calling into question the expected pace of tightening from the Bank: