Bank of Japan (BOJ) Governor Haruhiko Kuroda said Monday: “The recent strong yen falls are unwelcome, adding that they are “not good for the economy. “
Additional citations
The BOJ must support the economy with monetary easing in order to achieve higher wages.
Japan’s economy is still in the midst of recovering from the pandemic, with rising commodity costs adding downward pressure.
Important for forex to move stably and reflect fundamentals.
Will closely monitor the impact of currency movements on the economy and prices.
Japan’s economy is recovering as a trend despite headwinds from rising global commodity prices.
Don’t think Japan is in stagflation, don’t think it will.
There is uncertainty about the impact of the Ukraine crisis on Japan’s economy and prices.
Japan’s economy is likely to improve as the impact of Covid supply restrictions eases.
Separately, Japanese Finance Minister Shunichi Suzuki said there are both pros and cons to a weak yen.
Suzuki said he would not comment on FX interventions.
market reaction
USD/JPY slipped below 135.00 as the yen was once again turned upside down by Japanese authorities.
The spot is now trading at 134.86, up 0.32% on the day.
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