"There's going to be no change to the BOJ's stance so long as they're short of their inflation goal"
- Sacha Tihanyi, a senior currency strategist at Scotiabank
Japan tertiary industry activity expanded in June helped by finance, insurance, wholesale and retail industries. An index measuring activity rose 0.1 per cent from the prior month, said the Ministry of Economy, Trade and Industry on Tuesday.
Stocks rose the same day and the yen weakened versus all 16 major counterparts.
The Nikkei 225 Stock Average climbed 0.50 per cent, or 44.73 points, to 8,929.88. The broader Topix Index advanced 0.35 per cent, or 2.58, to 749.53.
"There's going to be no change to the BOJ's stance so long as they're short of their inflation goal," Sacha Tihanyi, a Hong Kong-based senior currency strategist at Scotiabank, said in reference to the central bank's one per cent inflation target.
Sentiment today "is looking a little bit better, so I think that's pretty much consistent with a little bit of softening in the yen."
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