Commenting on the exchange rate value, Bank of Japan (BOJ) Governor Haruhiko Kuroda said, “if moves are not too sharp and stable, weak yen is positive for Japan’s economy.”
Additional quotes
Central banks' basic understanding is to maintain monetary easing unless cost-push inflation leads to second-round effects such as heightening inflation expectation, wage growth.
Impact of weak yen is uneven depending on sector and size of each company.
Very important for forex rates to move stably reflecting economic, financial fundamentals.
What's important is for companies that saw profits rise from weak yen increase capex, wages and strengthen positive economic cycle.
Resumption of inbound tourism will help smaller, service-sector firms in regional Japan.
Market reaction
USD/JPY was last seen trading at 130.57, down 0.22% on the day.
