Japanese Yen slips despite firmer National CPI print as bulls await BoJ policy update

The Japanese Yen (JPY) is facing fresh selling pressure during Friday's Asian session, sliding back closer to the weekly low against the US Dollar. Despite the recently released national Consumer Price Index (CPI) indicating an improvement, investors are holding back, waiting for an update from the Bank of Japan (BoJ). The rise in CPI suggests ongoing inflationary pressures which could influence future policy decisions. However, market participants remain cautious about whether the BoJ will decide on an interest rate hike, leading to selling of the Yen. Today's movements are expected to be significantly influenced by the BoJ's statements, as traders look for clear guidance on the next steps. Changes in economic indicators and global developments may also impact the Yen's performance ahead.