就在日元恐慌似乎缓解时，日本报告说核心通货膨胀率上升。

周五早些时候发布的数据显示，日本的核心通货膨胀率降低了新鲜食品的价格，2月份同比同比增长3％，从1月份的3.2％开始，但以2.9％的速度超过了共识预测。

Just when it appeared that the yen scare could be easing, Japan has reported an uptick in core inflation.

就在日元恐慌似乎缓解时，日本报告说核心通货膨胀率上升。

Data released early Friday showed Japan’s core inflation, which stripes out prices for fresh food, rose 3% year-on-year in February, moderating from January’s 3.2% but beating the consensus forecast for 2.9%. The headline consumer price index eased to 3.7% from 4%.

周五早些时候发布的数据显示，日本的核心通货膨胀率降低了新鲜食品的价格，2月份同比同比增长3％，从1月份的3.2％开始，但以2.9％的速度超过了共识预测。头条消费者价格指数从4％降至3.7％。

Overall, both indices remained well above the Bank of Japan’s 2% inflation target, validating the central bank chief Haruhiko Kuroda’s declaration of victory over decades of deflation. Notably, since November, Japan’s headline inflation has been running hotter than that of the U.S.—almost 100 basis points (bps) higher now.

总体而言，这两个指数都远远超过日本银行2％的通货膨胀目标，证实了中央银行的负责人Haruhiko Kuroda宣布在数十年的通货膨胀中胜利。值得注意的是，自11月以来，日本的标题通货膨胀率一直比美国的通货膨胀率更高，现在几乎要高100个基点（BP）。

The sticky inflation, plus wage hikes from the shunto wage negotiations, have bolstered calls for BOJ rate hikes. In other words, a potential yen rally, known to destabilize risk assets, including cryptocurrencies, is back on the table.

棘手的通货膨胀，加上尚托工资谈判中的工资远足，加强了呼吁息息的呼吁。换句话说，潜在的日元集会（已知会破坏包括加密货币在内的风险资产的稳定稳定，又回到了桌子上。

As of writing, the dollar-yen (USD/JPY) pair traded at 149.22, having bounced nearly 300 pips in a sign of renewed yen weakness since March 11, according to data source TradingView.

根据数据源交易view的数据，截至写作时，美元元素（美元/JPY）对以149.22的价格交易，自3月11日以来弹跳了近300个ppips，标志着日元弱点的迹象。

That said, the narrowing or declining U.S.-Japan 10-year bond yield spread supports yen strength. Japanese yields have been rising across the curve, offering bullish cues to the yen. As of writing, Japan’s 10-year bond yield held above 1.5%, and the 30-year yield was above 2.5%, both at multi-decade highs.

也就是说，美国日期缩小或下降的10年债券收益率差异支持日元实力。日本的产量在整个曲线上都在上升，为日元提供看涨的线索。截至撰写本文时，日本的10年债券收益率超过1.5％，而30年的收益率超过2.5％，均为多年来的高点。

A renewed yen strength could translate into risk aversion, the likes of which we saw in August last year.

日元强度可能会转化为风险厌恶，我们去年八月看到了这种风险。