BoJ Gov Kuroda: BoJ will continue with powerful monetary easing - RTRS
|BoJ Governor, Kuroda, is crossing the wires speaking in Parliament saying that the Japanese economy is sustaining momentum to hit the BoJ's price goal, according to Reuters News
Additional comments:
- Japan's economy expanding moderately as a trend.
- BoJ will continue with powerful monetary easing.
- BoJ believes it should have easy policy bias, must be mindful of overseas risks.
- BoJ will conduct appropriate policy.
FX implications:
The Yen is subject to the BoJ's easing bias and, subsequently, is in supply. However, overnight, risk appetite was jolted by the news that Trump and Fed Chairman Powell had met to discuss the strength of the dollar which supported the Yen Additionally, CNBC reported that Chinese officials were concerned over prior comments with respect to tariffs from Trump, owing to his reluctance to roll back any tariffs that had already been marked – Subsequently, USD/JPY dropped from 109.05 early NY to just above 108.50.
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