Japan's yen has weakened, USD/JPY is back above 148.00

I posted earlier on the Japan PPI for July:

• Japan data - July PPI +0.2% m/m (expected +0.2%) & +2.6% y/y (expected +2.5%)
• Japan's wholesale inflation has slowed down for the fourth month in a row

I referred to the lower corporate inflation rate as a negative for the yen, at the margin. I didn;t expect the marekt to run with it so quickly.

USD/JPY has risen from lows below 147.75 to highs circa 148.15. Not a big move, but notable on an otherwise moribund session for major FX.

Japanese equities have jumped again:

• Japan's two benchmark stock indexes, Niklkei and Topix, both hit a new record high today