Japan’s Kiuchi: Hopes BoJ to work in line with government’s principals

Sagar Dua FXStreet

Japan's economy minister, Minoru Kiuchi, said during Friday’s European trading session that the government will not interfere in Bank of Japan’s (BoJ) decisions on monetary policy.

Additional remarks

Government will not comment on that

Hopes that BOJ will guide monetary policy appropriately to stably achieve 2% inflation target.

Hopes for BOJ to work closely in line with the government on principles stipulated in joint agreement.

Important for stock, FX, bond market to move stably reflecting fundamentals.

Government will watch market moves with high sense of urgency.

Market reaction

USD/JPY recovers its early losses during European trading hours, turns flat around 155.00. However, the recovery move appears to be driven by a decent rebound in the US Dollar.

Japanese Yen Price Today

The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies today. Japanese Yen was the weakest against the Australian Dollar.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		-0.05%	-0.09%	0.02%	-0.09%	-0.34%	-0.19%	-0.10%
EUR	0.05%		-0.04%	0.05%	-0.04%	-0.29%	-0.14%	-0.05%
GBP	0.09%	0.04%		0.08%	0.00%	-0.26%	-0.10%	-0.01%
JPY	-0.02%	-0.05%	-0.08%		-0.08%	-0.34%	-0.21%	-0.10%
CAD	0.09%	0.04%	-0.00%	0.08%		-0.26%	-0.12%	-0.01%
AUD	0.34%	0.29%	0.26%	0.34%	0.26%		0.15%	0.25%
NZD	0.19%	0.14%	0.10%	0.21%	0.12%	-0.15%		0.09%
CHF	0.10%	0.05%	0.00%	0.10%	0.00%	-0.25%	-0.09%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Japanese Yen from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent JPY (base)/USD (quote).

Author

Sagar Dua

FXStreet

Sagar Dua is associated with the financial markets from his college days. Along with pursuing post-graduation in Commerce in 2014, he started his markets training with chart analysis.

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