BOJ’s Kuroda: If FX movement is so fast and unidirectional, it’s probably speculation


Adam Button

Adam Button

Wednesday, 12/10/2022 | 12:36 GMT-0

12/10/2022 | 12:36 GMT-0

The MOF handles intervention but clues often come from the Bank of Japan and Kuroda is out with a warning:

  • If currency moves are so fast and unidirectional, they’re probably cuased by speculation and that would be bad for the economy
  • Yen deprecation may have good impact on macreconomy as a whole, but there are some sectors which are suffering from a weak yen
  • We have to be carefully watching and analyzing the impact of currency movements on the economy
  • Government intervened to short up yen or stop its one-sided moves and it was quite appropriate

It looks like we’re going to have a game of chicken in USD/JPY until closer to 150.00. Last up 95 pips to 146.82 and accelerating after PPI and Kuroda.


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