BOJ Gov Kuroda says weak yen is beneficial for Japan's economy if moves are not too sharp

Bank of Japan Governor Kuroda has been speaking for around and hour, finally some yen remarks.

Earlier:

• BOJ Gov. Kuroda speaking, has not addressed the sharp fall in the yen (yet anyway)
• Bank of Japan Governor Kuroda does not mention the yen weakness, so it drops some more
• BOJ's Kuroda still no comments on yen

Has now moved on to yen:

• No comment on FX levels
• If yen not moves are not too sharp, a weak yen is beneficial to Japan's economy
• its very important that FX moves stably reflecting fundamentals
• impact of a weak yen varies, uneven for each entity
• weak yen is positive for the economy as a whole
• carefully watching the imp[act of FX on the economy
• no comment on currency policy, this is under the jurisdiction of the Ministry of Finance

USD/JPY has stabilised a little after rallying sharply in Asian morning trade (and following the huge move Monday Europe/US time):

jpy JPY The Japanese yen (JPY) is the official currency of Japan and at the time of writing is the third most-traded currency in the world behind only the US dollar and euro.The JPY is used extensively as a reserve currency and is relied upon by forex traders as a safe haven currency.Originally implemented in 1871, the JPY has had a long history and has survived multiple world wars and other events. This was followed by the creation of the Bank of Japan (BoJ) in 1882 and the full oversight of the JPY by The Japanese yen (JPY) is the official currency of Japan and at the time of writing is the third most-traded currency in the world behind only the US dollar and euro.The JPY is used extensively as a reserve currency and is relied upon by forex traders as a safe haven currency.Originally implemented in 1871, the JPY has had a long history and has survived multiple world wars and other events. This was followed by the creation of the Bank of Japan (BoJ) in 1882 and the full oversight of the JPY by Read this Term