Why would you come out and say THAT!!!!!!!!

IS HE NUTS!!!

USD/JPY down at 78.75.

On nominal basis, yen levels not necessarily strong (is this a bloody imposter, I cannot believe what I’m hearing)

  • BOJ does not conduct policy based on daily fx moves
  • Yen rises have big impact on exports, corporate revenues
  • Focusing on downside risks to Japan economy
  • FX intervention will have siginificant effect on markets
  • BOJ buying foreign assets would be stepping into realm of govt’s forex policy
  • Japan’s fx action based on G20 agreement that excessive, disorderly fx moves are undesireable
  • Watching fx moves carefully as among key factors affecting Japan’s economy

Seriously, someone needs to gag this man…….