Japan Eco Min Goto - BoJ's decision not meant to be a tweak or exit from monetary policy

Japanese Economy Minister Goto comment crossing the newswires:

• acknowledges that the Bank of Japan's decision on Tuesday was not meant to be a tweak or exit from monetary policy

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Huh. If you want to describe it as a tweak, OK.

But, it was not an exit from easy policy, just a minor tightening. Thre reason it shocked markets and precipitated huge moves was of the loud and frequent denials from the Bank of Japan that they'd be doing any 'tweaking' ... then they did!

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Background, ICYMI:

• ForexLive Asia-Pacific FX news wrap: BOJ pivot sends the yen rocketing higher across board

Follow through for the yen in Europe and America times:

• ForexLive European FX news wrap: Yen flying high after BOJ policy tweak
• Forexlive Americas FX news wrap: Yen hits new highs as the BOJ fallout continues

More:

• BOJ YCC pivot shock: "USD/JPY could be into the 120’s sooner than we expected" says MUFG
• BOJ YCC shock pivot - "risks remain skewed to the downside for USD/JPY"