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):
