BoJ Gov Kuroda is hitting the wires:
IT WILL TAKE TIME FOR SUSTAINABLE, STABLE INFLATION TO TAKE HOLD IN JAPAN
BOJ NOT TARGETING FX MARKET
IMPORTANT FOR FX TO MOVE STABLY REFLECTING ECON FUNDAMENTALS
EXCESSIVE FX MOVES AS SEEN RECENTLY UNDESIRABLE
CLOSELY WATCHING IMPACT OF FX MOVES ON ECONOMY, PRICES
IMPORTANT TO PROMOTE VIRTUOUS CYCLE OF WAGE, PRICE HIKES BY PATIENTLY CONTINUING MONETARY EASING
Given past language from the BoJ on possible FX intervention, feels very 'we aren't targeting FX market now that the froth is coming off' I wouldn't bet against them intervening should USDJPY surge higher again.
