“Carefully watching impact of changes in US monetary policy on Japan’s economy,” Japanese Finance Minister Shunichi Suzuki said on Friday.
Watching fx market moves with even more sense of urgency while working with BOJ.
Expects BOJ to continue efforts to achieve price target sustainably, stably.
Rapid yen weakening seen in fx market recently.
Monetary policy up to BOJ to decide.
Government must respect independence of BOJ.
Expects BOJ to strive to achieve price target based on economy, prices and bond market.
BOJ Governor Kuroda has stated that he will maintain policy persistently.
USD/JPY bounces off intraday low
Following the news, USD/JPY snaps a two-day downtrend while bouncing off the intraday low to 132.60 by the press time.
It’s worth noting that the news of Japan’s top currency diplomat Masato Kanda’s reappointment during the mid-year personnel reshuffle also seem to favor the USD/JPY pair’s latest rebound.
Read: USD/JPY stays defensive above 132.00 on softer yields, BOJ, Fed’s Powell eyed