India, May 30 -- The Japanese yen strengthened against other major currencies in the Asian session on Friday, as Tokyo's core inflation data came in stronger than expected, increasing the chances of the Bank of Japan's (BoJ) 25 basis point rate hike in July.
Data from the Ministry of Internal Affairs and Communications showed that the overall inflation in the Tokyo region of Japan was up 3.4 percent on year in May. That matched forecasts and easing from 3.5 percent in April.
Core CPI was up an annual 3.6 percent, exceeding expectations for 3.5 percent and up from 3.4 percent in the previous month.
Investors also digested other important data on factory output, retail sales and unemployment.
Data from the Ministry of Internal Affairs and...