USD/JPY Moves Up, Corporate Goods Prices Flat

USD/JPY is trading at 103.44, up 0.95. The pair has extended Monday's gains into early trading Tuesday morning. Market chatter about Japanese economic data and comments by various policy makers is making the rounds. The Bank of Japan (BOJ) reported that June corporate goods prices (GCPI) fell 0.1 percent versus a rise in May of 0.2 percent. Year over year June GCPI was flat at minus 4.2 percent. The BOJ's quarterly consumer confidence survey's showed a decline to minus 27.3 in June versus minus 22.5 in March, it was the lowest reading since December of 2014. Reports are showing up that Japanese Prime Minister Shinzo Abe has proposed reducing the time individuals need to contribute to the national pension system before receiving benefits from 25 years to 10 years. Trading is modestly choppy.