BOJ Ueda: Important for FX rates to move stably reflecting fundamentals
BOJ Ueda now chirping and says:Won't comment on short-term FX movesBut then comments saying:Does not directly target FX in guiding monetary policyFX is among the key factors that affect economic price developmentsBOJ will work closely with government, continue to carefully watch FX moves and their impact on economy, pricesVarious factors, including speculation over monetary policy moves at home and abroad affect FX moves.Won't start reducing BOJs huge ETF holdings anytime soonMeanwhile Japan Fin. Minister is adding:Won't comment on whether recent USDJPY moves are excessiveimportant for FX to move stably reflecting fundamentals, excessive volatility undesirableThe USDJPY remains in the swing area between 150.718 and 150.880. This article was written by Greg Michalowski at www.forexlive.com.
BOJ Ueda now chirping and says:
- Won't comment on short-term FX moves
But then comments saying:
- Does not directly target FX in guiding monetary policy
- FX is among the key factors that affect economic price developments
- BOJ will work closely with government, continue to carefully watch FX moves and their impact on economy, prices
- Various factors, including speculation over monetary policy moves at home and abroad affect FX moves.
- Won't start reducing BOJs huge ETF holdings anytime soon
Meanwhile Japan Fin. Minister is adding:
- Won't comment on whether recent USDJPY moves are excessive
- important for FX to move stably reflecting fundamentals, excessive volatility undesirable
The USDJPY remains in the swing area between 150.718 and 150.880. This article was written by Greg Michalowski at www.forexlive.com.
