Japan Core CPI Holds 1.8% as Energy Shock Fuels Yen Strength vs Dollar

Japan's March core CPI stayed at 1.8% y/y, matching forecasts and up from 1.6% prior, but an energy shock from the Iran conflict threatens to lift inflation above 2% soon. This caps a 24-hour run of firmer prints: national core CPI at 1.8% and Services PPI surging to 3.1% vs. 3.0% expected on April 23. Hawkish BOJ signals loom ahead of the April 27-28 meeting, with rates holding at 0.75% but eyed at 1.0% by June end, bolstering yen and weighing on US Dollar vs Japanese Yen.