"A high chance that the BOJ will ease further at its July meeting"

We saw inflation data from Japan earlier in the session:

Japan May CPI: -0.4 % y/y (expected -0.5%)

And a stack of other data from Japan also:

• BOJ Q2 Tankan: Large Manufacturing Index: 6 (4 expected)
• Japan May data: Household spending, Jobless rate, Job-to-applicant ratio (household spending declined again)

All indicating economic softness continues.

Add this to concerns over Brexit and the strong yen and ...

• there is a high chance that the BOJ will ease further at its July meeting," said Hiroaki Muto, chief economist at Tokai Tokyo Research Center in Tokyo. "If the BOJ doesn't move this time, there's a possibility that the yen will strengthen further."

(The next BOJ meeting is July 28 and 29)

Bloomberg has more