USD/JPY is indicating trade under 147.00 in super-thin liquidity trade here in very early Asia.
Bank of Japan Governor Ueda was cited in Japanese media over the weekend signalling a ‘quiet exit’ from the Bank’s easy monetary policy.
- Bank of Japan Governor Ueda says his focus is on a ‘quiet exit’ reducing monetary easing
- USD/JPY indicating a big figure lower than Friday after ‘exit’ comments from BOJ Gov Ueda
More from the report that appeared in Yomiuri:
- The Bank of Japan Governor Ueda said the Bank could have enough data by year-end to determine whether it can end negative rates
- “Once we’re convinced Japan will see sustained rises in inflation accompanied by wage growth, there are various options we can take,”
- “If we judge that Japan can achieve its inflation target even after ending negative rates, we’ll do so,”
- Ueda said in the meantime the BOJ will “patiently” maintain ultra-loose policy: “While Japan is showing budding positive signs, achievement of our target isn’t in sight yet,”
- wage rises are beginning to push up service prices. The key is whether wages will keep rising next year, Ueda said. “We can’t rule out the possibility we’ll get enough information and data by year-end,” he was quoted as saying on the timing for ending negative rates.
This article was written by Eamonn Sheridan at www.forexlive.com. Source