BOJ Kuroda Concerned About Strong JPY

Bank of Japan Governor Haruhiko Kuroda voiced concern Monday about the adverse effects the yen’s ongoing strength could have on the Japanese economy.

“The yen’s current round of uptrend could have unfavorable impacts on the economy,” he told journalists in Frankfurt, adding he is closely watching what effects financial market movements would have on economic and price stability.

Kuroda also reiterated his oft-stated position that the Japanese central bank will take additional monetary easing steps if its 2 percent inflation target is deemed difficult to hit.

The yen briefly rose to an 18-month high against the U.S. dollar in the lower 106 range in Tokyo on Monday, amid receding expectations that Japanese monetary authorities would intervene to arrest the yen’s strength.

Kuroda is currently visiting Frankfurt to attend a series of financial meetings involving Japan, China and South Korea, as well as Southeast Asian countries.

via Mainichi

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza