More again from Bank of Japan Governor Ueda, trying his hand at some verbal intervention to support the yen.
Who wants to tell the Gov that a 500-odd bp yield differential between the US and Japan is a very strong fundamental that is moving the USD/JPY rate?
Ueda:
- important for FX to move stably reflecting fundamentals
- BOJ hopes to work closely with the government to scrutinise the impact of FX moves on the economy and prices
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USD/JPY not doing a lot:
