Japan's Nishimura: Government, BOJ will join forces to exit deflation

The Japanese government will join forces with the Bank of Japan to move the economy out of deflation, Japanese Economy Minister Nishimura said on Tuesday, according to Reuters News. 

Nishimura added further that the central bank will decide the policy appropriately. 

Core consumer prices in Tokyo, a leading indicator of nationwide inflation, rose 0.5% in October from a year earlier, data released Tuesday showed. 

The inflation remains well below the BOJ's 2% inflation target despite six years of massive stimulus. 

Nishimura's comments failed to move the needle on JPY, leaving the USD/JPY pair stuck near the 200-day MA hurdle at 109.05.