Bank of Japan (BOJ) Governor Haruhiko Kuroda is now making some comments on the recent depreciation of the Japanese yen.
Key quotes
Rapid yen weakening not due to the central bank policy.
Yen regaining stability after rapid weakening.
Weakness driven by abnormal situation where oil prices topped $130 per barrel.
Pledges to maintain powerful monetary easing to aid the economic recovery.
Inflation surge stems mostly from rise in commodity prices.
Yen weakness only contributed a little to recent jump in inflation.
Market reaction
USD/JPY was last seen trading at 127.23, up 0.11% on the day.