16 Jun 2015
BOJ's Kuroda backtracks from comments on FX – TradeTheNews
FXStreet (Barcelona) - The Bank of Japan Governor today clarified his previous comment on JPY depreciation, stating that any stable movement in the currency was not a matter of concern, according to the TradeTheNews team.
Key Quotes
“USD/JPY saw pronounced volatility on clarification from BOJ Gov Kuroda regarding exchange rates. Recall on June 10th, Kuroda said that real effective exchange rate showed yen was weak and might not weaken further. Today, Kuroda said those comments were unrelated from the nominal exchange rate, and that as long as FX moved in a stable manner the level of Japanese currency was not of concern.”
“USD/JPY spiked up over 40pips on the remarks toward 123.80, though it has given back some of the gains.”
“BOJ is headed for a policy decision later this week, and a Nikkei report suggested there may be a rift developing within the policy board regarding the sustainability of open ended policy easing.”
Key Quotes
“USD/JPY saw pronounced volatility on clarification from BOJ Gov Kuroda regarding exchange rates. Recall on June 10th, Kuroda said that real effective exchange rate showed yen was weak and might not weaken further. Today, Kuroda said those comments were unrelated from the nominal exchange rate, and that as long as FX moved in a stable manner the level of Japanese currency was not of concern.”
“USD/JPY spiked up over 40pips on the remarks toward 123.80, though it has given back some of the gains.”
“BOJ is headed for a policy decision later this week, and a Nikkei report suggested there may be a rift developing within the policy board regarding the sustainability of open ended policy easing.”