Japan's Iwata says it's possible for BOJ to lower rates to around -2.0%

Ex BOJ dep gov on Reuters.

Note corrected rate in header after Reuters reposted.

• further rate cuts, extending JGB duration are both options if BOJ needs to ease again
• difficult for BOJ to increase JGB purchase amount because would be buying JGBs at a loss
• yields, deposit rates and mortgage rates have fallen very quickly, bound to have impact on economy

USDJPY back above 118.00 on general $ demand

Offers into 118.25 and more at 118.50 with $1.8bln of option expiries there today.