Bank of Japan Governor Kuroda met with Kishida (this is a regular meeting Kuroda has with Japanese PMs)
Kuroda says when yen is moving 1 to 2 yen per day, that is a rapid move
- Met Kishida to explain domestic, overseas economic and market developments
- No specific request from PM Kishida on economy, markets
- Discussed FX with Kishida
- Rapid FX moves undesirable
- Will watch fx moves carefully
- When yen is moving 1-2 yen per day, that is a rapid move
- Won't comment on FX levels, specific market moves
- Rapid fx moves heighten uncertainty, make it difficult for companies to do business
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Kuroda is leaning a little toward a warning to markets, but still, this:
- will watch FX moves carefully
is not going to cut it. "Watch all you like" will be the market attitude.
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I posted yesterday on what to watch for indicating the warnings are ramping up:
USD/JPY dribbling a little lower;
