Bank of Japan Governor Ueda
-
Japan’s trend inflation heightening, will make appropriate monetary
policy decision - Service prices
continue to rise moderately - Expects positive
cycle to strengthen in which tight labour market leads to higher
wages, household income - Desirable for fx to
move stably reflecting fundamentals - Won’t comment on fx
levels - Fx rates move on
various factors -
A
1% rise in interest rates will lead to 40 trln yen worth of valuation
loss on BOJ’s JGB holdings
USD/JPY has taken a wee hit on the Ueda’s remarks:
This article was written by Eamonn Sheridan at www.forexlive.com. Source