Earlier today we had comments from Bank of Japan Policy Board Member Adachi:
Adachi effectively stuck a floor under USD/JPY for the session with his denial that Governor Ueda is looking for ways to end the Bank's negative interest rate policy as a report in Japanese media yesterday stated:
Adachi emphasized that:
- recent tweaks to YCC were not policy change
- now is not the time to say the Bank's inflation target has been met
- policy will remain easy
USD/JPY is back above 147.00. For now at least: