Japan January retail sales +3.9% y/y (expected +4.0%)

Japan January retail sales +3.9% y/y

• expected +4.0%
• prior +3.5%

The data of focus so far from Japan has been:

• Tokyo February headline CPI +2.9% y/y vs. +3.2% expected

The yen has weakened on the CPI data, at the margin it suggests less urgency on Bank of Japan rate hikes.