BOJ's Kuroda: If FX movement is so fast and unidirectional, it's probably speculation

The MOF handles intervention but clues often come from the Bank of Japan and Kuroda is out with a warning:

• If currency moves are so fast and unidirectional, they're probably cuased by speculation and that would be bad for the economy
• Yen deprecation may have good impact on macreconomy as a whole, but there are some sectors which are suffering from a weak yen
• We have to be carefully watching and analyzing the impact of currency movements on the economy
• Government intervened to short up yen or stop its one-sided moves and it was quite appropriate

It looks like we're going to have a game of chicken in USD/JPY until closer to 150.00. Last up 95 pips to 146.82 and accelerating after PPI and Kuroda.

/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