USDCAD: stuck in a narrow range!

Earlier today, the Japanese Government released updated forecasts, revealing that consumer inflation is expected to reach 2.6% in the current fiscal year. This is an increase from the previous forecast of 1.7% in January, and it surpasses the Bank of Japan's target of 2%. Additionally, the Government revised the economic growth forecast for the current year to 1.3%, down from the initial projection of 1.5% in January. It is anticipated that inflation will fall below the Bank of Japan's target range in 2024, with a forecasted rate of 1.9%.