29 Nov 2013
Fresh down-leg on the Japanese Yen
FXstreet.com (Barcelona) - The Japanese Yen is printing fresh trend lows vs G10 currencies during the first hour in Tokyo, with the Nikkei having slightly recovered from its -0.42% open to currently stay at -0.25%.
Bank of Japan Governor Kuroda hit the wires, speaking in the Japanese parliament, saying: "Japan must carefully watch impact of BOJ’s massive JGB buying on bond market", noting that "JGB may fluctuate sharply if confidence in Japan’s finances erodes."
Other comments included: "BOJ will continue to monitor JGB market carefully, ensure JGB market remains stable via flexible market operations. JGBs may make volatile moves if market doubts government’s commitment to fiscal health, which would inflict severe damage to the economy. Strongly hopes government takes steps to restore medium-, long-term fiscal health. BOJ’s QE is aimed at achieving its price target, not at monetising debt. Have absolutely no plan to monetise public dent via monetary policy. Expect Japan CPI to approach 2% in coming years as economy continues to expand above its potential."
Bank of Japan Governor Kuroda hit the wires, speaking in the Japanese parliament, saying: "Japan must carefully watch impact of BOJ’s massive JGB buying on bond market", noting that "JGB may fluctuate sharply if confidence in Japan’s finances erodes."
Other comments included: "BOJ will continue to monitor JGB market carefully, ensure JGB market remains stable via flexible market operations. JGBs may make volatile moves if market doubts government’s commitment to fiscal health, which would inflict severe damage to the economy. Strongly hopes government takes steps to restore medium-, long-term fiscal health. BOJ’s QE is aimed at achieving its price target, not at monetising debt. Have absolutely no plan to monetise public dent via monetary policy. Expect Japan CPI to approach 2% in coming years as economy continues to expand above its potential."