USD/JPY has hit a 3 week high after the Tokyo inflation data

USD/JPY has popped well above its Thursday high, to a 3 week high around 145.50 and change.

We had data earlier from Japan:

• Tokyo area September inflation data: Headline 2.2% y/y (expected 2.2%)
• USD/JPY sitting around its recent high circa 145.05 after the Tokyo inflation data

And rate cuts from China:

• PBOC cuts 7 day reverse repo rate to 1.5% (prior 1.7%)
• People's Bank of China cuts RRR by 50bp

Yen weaker: